Why Prevent the Real Estate Foreclosure - Road Map to Help Homeowners Prevent a Real Estate Foreclosure

Why Prevent the Real Estate Foreclosure

Many homeowners heading into foreclosure just waive their arms and give up. It can get embarrassing and frustrating but no matter what don't give up. Once a homeowner loses a home to a foreclosure, the foreclosure will stay on their credit for 10 years. In addition, many homeowners who go through a foreclosure find that they end up filing for bankruptcy, having difficulties obtaining reasonable credit, renting a place to live, opening up a checking account, getting a credit card and keeping their job (some employers will fire employees who have had a foreclosure).

The reasons why you should avoid a foreclosure are:

1. Keep Your Banking Reputation – Some banks will not open up accounts with depositors who have had a foreclosure. By preventing a foreclosure, you maybe able to keep your banking relationship.
2. Buy a Home Quicker – A homeowner who has gone through a foreclosure will have a mandatory waiting period. This can be prevented if a foreclosure is prevented.
3. Get a Federal Loan – A homeowner who has gone through a foreclosure will not be able to obtain a federal loan for up to 10 years.
4. Tax Benefits – There are tax benefits when preventing a foreclosure.
5. Stress Release – When a homeowner escapes foreclosure, there is an almost instant release of stress.
6. Better Record – Some employers will view a foreclosure as being unorganized and undependable.
7. Better Interest Rate in the Future – Homeowners who escape foreclosure will get a better interest rate on future purchases like cars and homes.
8. Forgiven Debt – Due to the Mortgage Forgiveness Debt Relief and Debt Cancellation Act, homeowners who have escaped foreclosure may see debt relief.
9. Save Your Credit – There is nothing worse on a credit report than a few late pays followed by a foreclosure. 
   
   

Checkout our Free Report: “ Road Map to Prevent a Real Estate Foreclosure.” Go to: http://StopForeclosure.DowellTaggart.com

Need help preventing a real estate foreclosure, contact the Dowell Taggart Team at (913) 712-9313.

We have helped homeowners in many of the cities in the Kansas City Metropolitan area including: Gardner, Olathe, Edgerton, Spring Hill, Overland Park, Leawood, Lenexa, Prairie Village, Shawnee, Mission, Basehor, Lansing, Leavenworth, Platte City, Gladstone, Liberty, Lee's Summit, Pleasant Hill, Raymore, Gardnview, Belton, Raytown and Kansas city.

RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

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