Why Short Sale vs Foreclosure - Why Short Sale vs Foreclosure

Uploaded by realtordwight on 22.05.2012

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{\*\generator Msftedit;}\viewkind4\uc1\pard\sa200\sl276\slmult1\lang9\f0\fs22 Hi I'm Dwight Miller with DPR Realty and this
video is about Why Short Sale Your Home? And there are 5 main reasons my clients decide
to short sale. The number one most important motivator for them is your bank will in many
cases pay you thousands of dollars to short sale your home. The HAFA Program is the most
common, it pays $3,000 and there are other programs which I try to get my clients qualified
for during the short sale process. Now your bank wants to short sale your home vs. foreclosure,
they don't want the home vacant. Often times it gets vandalized and the A/C and appliances
stolen, and in many cases the government has programs that incentivize your bank to do
a short sale for you. So there are lots of reasons your bank wants to pay you thousands
of dollars to short sale your home. The second reason my clients decide to short sale is
that in many cases it gives them more time in their house which saves them months of
mortgage or rent payments. The HAFA Program again from the day you qualify gives you 120
days to sell your home. So it's a great program, saves my clients thousands of dollars again.
The third main reason my clients decide to short sale is they can buy their next home
much sooner. These are the federally-backed mortgages that most people use to buy their
home. The difference can be as big as 2 years from now you can buy your home vs. 7 in a
foreclosure. On my website I have a .pdf document that details that out that was prepared by
Lawyers Title. I highly recommend you look at that and understand the impact your decision
will have on when you can buy your next home. The fourth reason my clients short sale is
it's a lot easier on your credit. Foreclosure can be a 200, 250 point hit to your credit
score which can take years to recover from. It can affect employment, it affects your
car insurance rates and how much you pay for insurance. And obviously your availability
to finance a car purchase and the interest rate you're gonna get. So credit score is
very important. And the last reason my clients decide to short sale is it just feels and
looks better. You're working with the bank to sell your home. You're working with the
buyer to sell your home. You're coordinating the move-out date, you're taking care of the
home, and for a lot of people it just feels like the right thing to do. So there you have
it, those are the 5 main reasons to short sale your home. If you have any questions
or would like to short sale your home, I'm Dwight Miller, DPR Realty, my cell number
is (480)694-1285, email dwightrealtor@yahoo.com, and of course you can find me at AzEasyShortSale.com.
Thank you for watching and have a great day!\par }