Over the past few weeks we have been discussing the options available when you are in financial trouble regarding your mortgage.
Today’s economic situations have made it harder for homeowners to keep up with their monthly payments. As discussed in previous articles you have a variety of options, from loan modification to short sales and if all else fails foreclosure or deed in lieu of foreclosure.
Take the time to protect what you have. Your credit is very important. You have spent time and effort to get the score you have. Decisions that you make regarding your mortgage are also going to affect your credit in the future. We all realize that our credit is very important in the everyday world and what happens with your mortgage is greatly going to affect your overall credit.
Keep in mind, look into all your options when considering your situation and speak with a professional.
Make sure you get legal advice as to what rights you have. Also, contact your tax advisor or accountant as to what decision you make in the end is going to protect you.