Boise Home Sellers: Ways to Prevent Foreclosure
If you are concerned about potentially losing your home, it would behoove you to read this. Many Boise home sellers aren’t aware that a foreclosure is not their only option.
A Brief Lesson in Finance
If your job is in jeopardy, or you are concerned about your mortgage payments; then you need to figure out what you can and can’t afford. The first step is to make a Budget. Yes I used the “B” word. Putting a budget together takes a little work upfront, but it really puts you in control of your finances. It eliminates loads of frustration and worry about what is happening to your paycheck. You must FIRST assess your current expenses before you can figure out where you can cut back.
Down-size to Luxury & Keep Your Equity
If you find that you’ve cut back as much as possible and still won’t be able to afford your mortgage payments, you should first consider down-sizing. Less square footage can mean less monthly expenses as well. And you may be able to find a smaller home with better upgrades. Down-sizing your Boise home is a good idea if you have some equity in your home. A Boise Real Estate Agent with a good marketing plan can help you keep more equity in your pocket than an auction sale, where eager investors want a ”good deal.”
No Equity? What about a “Short Sale”?
If you are concerned that you won’t be able to keep your home and have no equity in your home, you should consider doing a short sale. It can protect your credit more than having a foreclosure on your record.
Click here to read more about Short Sales. If this is your final option, I am experienced in the short sale process and can answer any questions you may have. You may reach me at (208) 870-7470, or toll free: 1-877-800-8167.
Tags: Boise Foreclosures, Boise Home Sellers, Boise Real Estate Agent, Boise Short Sale, Down Size to Luxury, Down-sizing your Boise Home