Entering into foreclosure may feel like you're falling into a foreclosure pit. Foreclosures in Winchester, VA have fallen to 9% of the current active listing market, but that doesn't mean we're out of the woods yet.  Our previous 30 day marketing report included 51% distressed property sales.  Depending on the resource you use for your daily updates, the foreclosure market is either declining or increasing.  It's no wonder that homeowners don't know what to do.  

Don't fall into a foreclosure pit.  There are a few things a homeowner can do to avoid foreclosure.

• Have you lost one or more sources of income?
• Are you current on your mortgage payments?  If not, are you far enough behind that catching up would take a miracle?
• Are you receiving letters from your lender encouraging a short sale or threatening foreclosure?
  
• Have you become a prisoner to your mortgage?  You can't take a vacation, save for college, pay your living expenses on time or sleep at night.
• Has your home become a burden rather than a blessing?
• Has maintaining your home caused your credit to begin a downward spiral?
• Is keeping the home causing the family dynamics to become strained and combative?

This list could be longer, but you can easily see how an impending foreclosure could affect you and your family.  There are a couple ways to relieve yourself of a home that is heading for foreclosure.  You can contact your lender and offer adeed in lieu of foreclosure.  That basically means that you will voluntarily give the house back the lender and walk away.  The lender has to agree to the deed in lieu, and it is less expensive for them to accept the house under these conditions than it is to go through foreclosure.

Another option may be a short sale.  In a short sale, your lender allows you to sell your home at a discounted price.  Make sure you hire a short sale agent that has successfully navigated through the short sale process.  It is a tough decision to face, but if it comes to a short sale in Winchester, VA, call Cornerstone Business Group, Inc., and we will help you through the process.

 Don't fall into a foreclosure pit.  We can help you through this difficult time.  There are brighter days ahead, and we can help you get there.