Inside Sacramento Real Estate


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If you want to save your credit rating, then do the short sale but if you think it is fine to declare bankruptcy, then let your property be repossessed. Below are the comparison of repossessed homes and Sacramento real estate short sales.

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Inside Sacramento Real Estate

  1. 1. Inside Sacramento Real Estate ©
  2. 2. Inside Sacramento Real EstateIf you want to save your credit rating, then do the shortsale but if you think it is fine to declare bankruptcy, thenlet your property be repossessed.Below are the comparison of repossessed homes andSacramento real estate short sales.Check them out; ©
  3. 3. Inside Sacramento Real EstateBenefits of Short sale - This method have a benefit tohome owners who wants to save their credit ratings fromgoing down further.This method will give you a peaceful sleep at night sinceyou know who is buying your home. Short sale will alsospare you from multiple problems caused by foreclosureproceedings. ©
  4. 4. Inside Sacramento Real EstateBenefits of repossessed homes - Apparently, repossessedhomes benefit the home buyer than the home owner(seller). The obvious benefit is that the home buyer canpurchase a very affordable distressed property that has tobe sold because of an unfortunate financial situation.Distressed homes are much cheaper compared to otherproperties found in the Sacramento real estate market. ©
  5. 5. Inside Sacramento Real EstateRepossessed homes can also be great for would beinvestors.Most of the real estate investors I know used to buymultiple repossessed properties (below market value)then sell it to potential buyers twice the amount they shellout. ©
  6. 6. Inside Sacramento Real EstateWhats going to happen after a Short Sale –If your payments have never fallen behind 30 days lateand the lender does not require that you pay back theloan, a real estate guidelines may allow you to buyanother home immediately. ©
  7. 7. Inside Sacramento Real EstateFinding a lender who will fund that kind of loan is verydifficult.If you are current on your mortgage, you can qualify foran FHA loan immediately as well, but lenderrequirements can be weird such as you have to movemore than 600 miles away. ©
  8. 8. Inside Sacramento Real EstateHe added that If your payments are in arrears yet a shortsale is granted by your lender, you may qualify to buyanother home with a Fannie-Mae backed mortgage withintwo years, regardless of whether the home is your primaryresidence.The wait for FHA is three years. ©
  9. 9. Inside Sacramento Real EstateWhats going to happen after a Foreclosure –With certain restrictions, you may be eligible to buyanother home in five years if the home was your primaryresidence. Without restrictions, the wait is seven years. ©
  10. 10. Inside Sacramento Real EstateEffects of Short Sale to credit ratings - According to arealtor, a short sale may be considered to be a derogatorymark on your credit even though credit bureaus do notshow the word "short sale" on your credit report.It may say "paid in full for less than agreed" or "settled forless," among other categories. ©
  11. 11. Inside Sacramento Real EstateSome clients have reported negative FICO score dropsfrom 50 points to 130 points.Major point drops are typically due to being indefault, meaning you have fallen behind on yourpayments. ©
  12. 12. Inside Sacramento Real EstateEffects of Foreclosure to credit ratings - Depending onyour credit history and other guidelines, a study showstwo examples in which a credit score could fall 105 pointsto 160 points after a foreclosure.Generally, a foreclosure will remain on your credit reportin the tradelines section for seven years. ©
  13. 13. Inside Sacramento Real EstateWhen you use short sale method you will be able toescape the problems done by further credit loss and thelifetime embarrassment from other people.So, if you think you on the edge of the situation, you try toavoid getting into trouble by avoiding foreclosureproceedings, instead, do the short sale so you can saveyour credit ratings. ©
  14. 14. Inside Sacramento Real EstateYour credit history can be saved through severalSacramento real estate methods and all those methodscan be done through real estate practitioner who was inthe business for a very long time.They can surely help you understand more the reasonwhy you should do such method. ©
  15. 15. Inside Sacramento Real EstateLooking for the most trusted and well known professional inSacramento Real Estate?Look no further! David Yaffee can help you in virtually ALLyour Real Estate in Sacramento needs.If you have more concern in Real Estate Sacramento justvisit my site and call me. ©
  16. 16. Inside Sacramento Real Estate Brought To You By ©