Real Estate is Recovering | Sacramento Real Estate Homes For Sale

Real Estate is Recovering

As Sacramento real estate heads toward recovery there will still be homeowners who continue to struggle with their house payment and do not have the necessary equity it takes to refinance. For those homeowners, most of the time short sales are the best option rather than foreclosure which is a longer and heavier ding on their credit.

Right now, in today?s real estate market those home buyers with 760 credit score and higher are getting the best interest rate. ?I?ve never seen interest rates this low in my life time?incredible! ?One of my First Time home buyers right now is getting 3.75% interest rate on a home she is buying in Hollywood Park.

You asked what difference does it make if my credit is bad for years? Bad credit to some employers, is a sign to not hire you, if you need a new car, bad credit will make your car payment higher than someone who has good credit, when renting there are those landlords who chose not to rent to someone with bad credit and the list goes on.

Short Sales are better than Foreclosure

I realize there are some homeowners who live in a house that is smaller than they would like and have lost equity?as we all have. ?Yes, you can rent a larger home for less than what many homeowners are currently paying on their house payment. ?This is where you need to dig down deep and make a decision on whether or not you want to stick it out or let your current home go. ?I don?t judge a homeowner or their decision to short sale or take foreclosure. ?I am merely here to help you with understanding the process as well as your options so you can make your final decision.

Renting Home Helps Avoid Ruing Credit

If you are a Sacramento homeowner struggling to make your house payment, renting the house is a good solution if you can rent and break even. ? If not, then short sale may be your best option. ?Give me a call and let?s talk about your options.

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Source: http://www.sacramentorealestatevoice.com/sound-advice-when-upside-down-on-home-mortgage/

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