We know that you're going through a difficult time and the thought of losing your home can be overwhelming. Unfortunately, losing your home through a foreclosure is the worst way to go through this process. We like to refer to foreclosure as "the atomic bomb of credit scars." This is because it not only has a profound impact on your credit score, but it also lasts the longest.
When your credit is negatively affected, it can lower your credit score and the effects can last for varying periods of time. However, nothing compares to the impact of a foreclosure on your credit score. It will lower your score significantly and the effects can last for a staggering 7 to 10 years.
We understand that you may be feeling hopeless about your current situation. You may have considered just "walking away" from your home and thinking that foreclosure will be the end of your problems. However, the truth is that foreclosure is just the beginning of a long and difficult journey that can have a lasting impact on your life.
You may face everything from an eviction by the sheriff, embarrassment, years of battling creditors, deficiency judgments, and lawsuits, to possible tax ramifications that could even lead to garnished wages. Not to mention, it can also make it difficult to get credit cards, car loans, or even certain types of employment for up to a decade.
But there is hope! If you're facing foreclosure or struggling to keep your home, please reach out to us. We can help you explore all of your options for selling your home and avoiding foreclosure. Let us help you get back on your feet and start the next chapter of your life with peace of mind. Contact us today to learn more!