Loudoun to Winchester VA – The Stop Foreclosure Institute recently received a question from Kristine.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was Kristine’s Question. “I bought a condo in 2005 and have never been late on a payment. My husband and I have been renting out this property for less than we pay on it.

We had hoped that the market would turn around, which it hasn't. The current renter has fallen behind on rent in July and will be moving out at the end of the month.

In turn we are struggling to pay our own bills. We have done all we can to keep our finances afloat. But, it has gotten to the point that our savings are drained and we cannot afford this condo anymore.

I heard that doing a short sale may be in good interest for someone in my situation. The loan I have is a VA loan and I hope I will not mess my future VA loan privileges up by doing this.

However, we simply cannot afford to pay our current mortgage and all of our bills with this condo hanging over us. Please let me know what you recommend that we do. Kristine.”

Here was our recommendation to Kristine. A short sale would be beneficial to you. Let me explain why.

Currently you are losing money every month. In addition, the economy has caused you to use up all of your savings. But, this condo is still costing you money every month.

If you short sale it, then you will not have to repay VA or your lender any money for the loss. However, you will not be able to get another VA loan in the future until you repay VA for the loss.

Here is the bigger issue. A VA loan gets you a half a percent better interest rate. If you get another loan for $200,000, then that will save you $20,000 over the life of the loan

I do know that the area you bought your condo has experienced significant depreciation. Your condo has dropped in value by $120,000.

I would prefer to write down $120,000 in debt and take the temporary credit hit. Your alternative is to continue limping along losing money each month until you miss enough payments that the bank forecloses on your condo.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at cindygreenya@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 703-795-5904

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Loudoun to Winchester loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Cindy Greenya.

Cindy is a Real Estate Agent at EXIT Realty Talbot & Company. Loudoun to Winchester Short Sales Realtor:

Phone: 703-795-5904. cindygreenya@gmail.com.

Opening Doors from Loudoun to Winchester

View My homes for sale at www.Loudoun2Winchester.com.

Cindy Greenya specializes in loan modification assistance and short sales in Loudoun Virginia. Loudoun Loan Modification Help, Loudoun Short Sales. Loudoun Short Sale Realtor. Winchester VA Loan Modification Help, Winchester VA Short Sales. Winchester VA Short Sale Realtor. Berryville VA Loan Modification Help, Berryville VA Short Sales. Berryville VA Short Sale Realtor. Round Hill VA Loan Modification Help, Round Hill VA Short Sales. Round Hill VA Short Sale Realtor. Purcellville VA Loan Modification Help, Purcellville VA Short Sales. Purcellville VA Short Sale Realtor. Loudoun to Winchester VA Short Sales. Loudoun to Winchester Realtor.



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Important Notice

Cindy Greenya, EXIT Realty Talbot & Company, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Cindy's personal views and do not reflect the views of EXIT Realty Talbot & Company.

This information on Should I Loan Mod or Short Sale My Loudoun to Winchester Investment Property is provided as a courtesy to our viewers to help them make informed decisions.