Is a Recent Job Loss Causing Financial Distress?
Millions of people have lost their job opportunities, or have experienced a reduction in their annual incomes over the past few months. While many individuals have relied on second incomes or savings over the short term, others have been unable to maintain their financial threshold and are facing foreclosure on their properties in the event that something does not change quickly. If you are currently in this situation, you do have options available for consideration. Some of your options include searching for additional employment, trying to negotiate a change in your current mortgage with your lender, listing your property for sale and short selling. If you are unable to secure additional income or your lender will not modify your loan in such a way that you can afford to make ongoing mortgage payments, short selling your home may be the best financial option. What is Short Selling? A short sale refers to a real estate transaction in which the property sells for a price below what is
