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Archive for May 13th, 2011
Homeowners are extremely attached to their homes. One experiences ups and downs in one’s homes. Unforgettable incidents occur there that define one’s life. Surrendering your beloved home in a foreclosure is a heartbreaking event. Some years back, my maternal uncle nearly experienced the sadness of losing his home in a foreclosure sale. He was in debt due to the collapse of his business. He owed more money than his residence’s value. I wanted to assist him. I researched foreclosures/short sales. I liked a related website as it honestly voiced that foreclosure sales are a disastrous option, which would scar a person’s life forever. The website told me that foreclosures would produce harsh tax ramifications and harmfully impact one’s credit. The website remarked that lenders, however, consent to short sales as it offers them money and allows them to evade foreclosure’s expenditures. As per the website, short sales are less time-consuming and less complex than foreclosures. The website uttered that its knowledgeable advisers have a triumphant track record in short sales. They would competently deal with their clients’ tax and deficiency implications. My uncle interacted with this website’s intelligent workforce. His house was vended via the preferred short sale process and not through the painful foreclosures.