The Cottages at Enchantment Ridge

NEW - THE WILLIAMSBURG This impressive two story home features four bedrooms with a main floor master and three baths. An open and spacious kitchen and dining room as well as a large great room. Covered front porch and two car garage. 1516 total square feet (886 on the main level and 630 on the upper level). Price listed is base price and does not include lot premium or upgrades. Buyer must qualify - deed restricted - for price of $184,000. Without restrictions base price is $196,200.

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I am concerned about my credit - how will a Short Sale affect my credit?

Late payments leading up to a Short Sale will negatively impact your credit. However, if your bank accepts a Short Sale and does not negatively report, the short sale will not in itself negatively impact your credit score. For sellers, the key advantage to selling in a short sale is avoiding foreclosure. A Short Sale does less damage to a person's credit report than a foreclosure. It's also less detrimental than a "deed in Lieu" (of foreclosure), in which a borrower gives the lender the keys to the house and stops paying the loan.

"Our life and future was in your hands and you all did everything to make sure we had a bright future!"  JJ & Holly

If you are facing the possibility of loosing your home to foreclosure, remember, it's not your only option! There is a huge difference between life AFTER foreclosure and life WITHOUT foreclosure. 

To find out more about how a short sale can affect your credit or for more information on the short sale process, call Team cook today - we ARE Certified Distressed Property Experts! 970-532-2695

Below you will find a list of "hardships" that are frequently accepted by mortgage lenders:

• Job loss, unemployment or significant income loss
• Divorce or seperation
• Excessive medical bills
• Death of spouse
• Military service
• Adjustment in mortgage payment or unforseen increase in living expenses

Most mortgage companies or lenders require the hardship letter pursuant to a short sale. In the hardship letter, it is important to present the facts clearly, and above all else, be honest. The hardship letter must be able to prove the situation that caused you to fall behind on your payments and the excuse for falling behind must be legitimate and provable. A hardship is defined real and the mortgage company believes the loan is likely to become delinquent.

"With the economy the way it is, I lost my job and had other family crisis's going on at the same time. I spoke with Kevin about a Short Sale. He explained everything to me, and I decided to list it with them. To make a long story short, best decision I have made in many years! I was able to concentrate on my family issues while they handled the sale of my home. One less concern for me."  Randy

If you are facing a hardship, and would like more information on the Short Sale process, call Team Cook - we ARE Certified Distressed Property Experts! 970-532-2695