The media the past couple days has been blasting about the foreclosure rate here in Nevada being the second highest only to Florida. While this may be the case, it is due to the law makers in Carson City delaying foreclosures last year. Unfortunately for people that have not been paying their mortgage payments the past year of so, your time may be up.
Banks have now, once again, begun processing foreclosures. If you are afraid of this happening to you, short selling your home may be a viable option. If your mortgage is backed by Fannie Mae and you qualify to complete a short sale, you can receive $3,000.00 for relocation. A short sale on your credit is only a scratch compared to foreclosure. Additionally, if you have a second mortgage or any other liens, you can be cleared of those debts too.
My experience and expertise in selling real estate is an asset to you. If you want to find out if Fannie Mae backs your mortgage, simply email me at mike@lvhomesbymike.com.
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