Pros And Cons Of Home Affordable Foreclosure

Foreclosures are winning the race in the real estate notoriety department right now and right behind them is the elusive, slippery "Short Sale". Although not everyone quite understands how a short sale works, or how it benefits the average consumer, or the differences in short sales by lender or state, almost everyone has probably heard the word by now. 2011 and beyond will be the "Decade of the Short Sale" and here are 10 reasons why:

HAFA Program (Home Affordable Foreclosure Alternative) - The HAFA program (or as I have sometimes un-affectionately referred to it, the HAHAHAHA program) is the governments' idea of "helping". I admit that when the program works it is fantastic and I'm here to tout it's benefits not it's shortcomings. If you

This is a business decision made by a client as to what's in their best interest. Some people need to move because of financial hardship. Some people are forced to relocate and can't sell their home otherwise. Others have unexpected medical bills, family issues like divorce or separation, or were tricked into some ridiculous interest rate that has now doubled or tripled. These people can put food on the table or they can pay their mortgage. What's it gonna be? Well, if it's the former then there are only a few options and foreclosure and short sale are two of them. People have become more knowledgeable of the process and as the idea and concept becomes less foreign the average homeowner can make a much more informed decision. Foreclosures usually benefit no one while a selling your home can benefit all parties involved, especially the lenders. Don't believe that? Call your lender and tell them you are planning to stop paying your payments and I'll bet somewhere along the way they tell you to attempt a short sale. In most cases, anything but a

Sticking your head in the sand and waiting for someone to come along and dig you out is not a good idea. Maybe a short sale isn't the answer; maybe it's a loan modification. Maybe you turn your home into a rental. Or maybe a foreclosure may be best. Maybe you even make the decision to stop watching the news, stop reading the paper, and stop reading these "Top 10 Reason" lists and you decide to stick it out for the long haul. No matter what you decide follow these steps and you can succeed: Acknowledge the situation you are in, explore all your options, discuss your situation with the right professionals, make an informed decision, stick to it, have a backup plan just in case, and go out and live your life without stress or burden. A wiser man than me once said; "I have been given a finite amount of heartbeats and I don't plan on wasting even