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Make An Informed Decision About Your Foreclosure Alternatives, Urge Venice Short Sale Agents

You may be looking for an alternative to foreclose on your home but are unsure of what your options are. According to Venice short sale experts, there are a variety of different foreclosure alternatives for you to choose from, but they caution that you consult with an expert before deciding which one is best for your situation.

One of the most common foreclosure alternatives is a load modification. Venice short sale agents explain that with a loan modification you work with your lender or servicer to change the terms of your loan; often times the interest rate or monthly payment amount is adjusted. What most homeowners don’t realize, however, is that a vast majority of loan modifications are unsuccessful for a number of different reasons. Because of this, say Venice short sale agents, homeowners are often left with a mortgage they are still unable to afford as well as lost time and money.

Another option that many people aren’t familiar with is a deed-in-lieu of foreclosure. With a DIL, the homeowner simply transfers the title on the home back to the bank and walks away. Venice short sale specialists say the catch is that the homeowner is still liable for the mortgage and just “walking away” isn’t as easy as it seems.

Finally, Venice short sale experts want you to know about the best alternative to foreclosure (in their opinion, of course!) which is the Venice short sale. With a short sale, you ask permission from your lender to sell your home for less than what it’s worth. This can be the best alternative for families for a number of different reasons. First of all, completing a Venice short sale on your home offers you the chance for a fresh financial start; there’s no underwater mortgage hanging over your head. Second, there are a number of short sale incentives currently available to help you get back on your feet after your Venice short sale is completed.

As you can see, there are many different alternatives when it comes to foreclosure. Before you decide which one is best for you and your financial situation, Venice short sale experts would like you to contact them to discuss all of your options with regards to you situation. Making the best financial decision now is extremely important because your future depends on it.