When you’re behind on mortgage payments and it is putting you in financial trouble, one solution is to short sale your home. In this category of fast home solutions, you are selling your house for less than the existing balance of your mortgage. You will have to do this in collaboration with your lender and they will have to approve any sale. To see if a short sale is your route among fast home solutions, consult these common myths and their actual truths.
- Myth: My credit will be ruined after a short sale.Truth: Your credit score may suffer slightly, but the true impact varies person to person. With so many factors that determine an individual’s credit score, there isn’t an exact formula to know what kind of effect a short sale will have on your credit score. If you’ve never been late on a payment of any bill, then your credit score will decrease slightly but not as much as if you have missed payments in the past. In any case, a short sale will have much less of an impact on your credit score than a foreclosure would.
- Myth: After a short sale I won’t be able to buy another home for several years.Truth: Depending on the circumstances, you could get an FHA loan within three years of the short sale date. To qualify for an FHA loan, you can’t have been more than 30 days late on your mortgage or other installment payments in the year before the short sale date. Prior to the application for the loan, you can’t have been 30 days late on installment and mortgage payments. With a reputable payment history and the right mortgage investor, you’ll be able to buy a new home in just a few years after you sell your house with short sale solutions.
- Myth: I can only short sale my home if I am late on payments.Truth: A short sale is possible under other circumstances that prevent you from keeping your home. Situations such as relocating for a job may qualify you for selling a home through a short sale. The decision depends on your mortgage lender. If you can explain to them in your “hardship letter” why you need fast home solutions like a short sale to sell your home, they could approve it.
The average home in 2016 was sold within four weeks of being listed. While this type of quick sale may not account for all of the matters wrapped up in a short sale, you could be looking at a similarly quick timeline to be rid of your mortgage payments and onto the next phase of your life.
vy, muddy winter boots. An overly zealous Golden Retriever with nails that are due for a trimming. Years of exposure to the setting sun from your kitchen’s west windows. Countless dropped ceramic mugs, and a toddler with a habit of chucking toys off the dining table. If you lead a busy life with an active family, all of these occurrences probably sound like a recipe for very tired looking floors. If your home’s high traffic areas have a less than formidable kind of flooring, you are probably groaning inwardly at the thought of replacing the old with the new again. However, there is a solution that will be an investment in your floors without upsetting the daily life for a remodel and breaking the bank: floor protection paper. Here are the reasons why a small financial dedication to floor protection paper would be worth it in the long run.
Protection will guard your floors against daily wear and tear. If your floors are of a material that tends to show off its din
It’s a rite of passage that accompanies moving into any new house: painting. Putting a new coat of paint in a room can liven it up and painting can come with a real sense of accomplishment; like you are putting your stamp on the house and making it feel like a home.
For all the enjoyment that can come from painting, there’s a lot of risk involved too, particularly risk that you can’t necessarily see. A fresh coat of paint may look good and might liven up a room, but without the right product, it could harm your home.
Volatile organic compounds (VOCs) can be irritants during whatever home repair you might be working on. Using those chemicals can ratchet up the number of pollutants in your home very easily and quickly. The number of pollutants can lead to a number of health problems and the exposure to VOCs is much greater inside than outside. Studies have shown that level of several organics average two to five times higher indoors than outdoors.
Common VOCs include benze