Chesterfield Twp, MI – 5/9/2012 – For homeowners in danger of losing their home, walking away might seem like an attractive solution. “Many distressed homeowners in Macomb County have been getting bad advice when it comes to strategic default,” said Dolores Gaskell, CDPE and Broker/Owner of Macomb Metro Realty, Inc. “It has become fashionable for some so-called experts to recommend defaulting on your mortgage as a method of dealing with pending foreclosure, but this is actually one of the worst options imaginable,” Gaskell added.
Strategic Default is a method that some homeowners who are in danger of losing their home to foreclosure choose to take. Rather than spending more money trying to save the home, they simply let the bank foreclose, take the credit hit and then walk away. “It is unfortunate,” said Gaskell, “because there are so many better options available to homeowners under the threat of foreclosure than this.”
While Strategic Default may provide immediate relief to the overwhelming feeling that the threat of foreclosure brings, it can have devastating effects on a homeowner’s future ability to find affordable housing.
As a Certified Distressed Property Expert (CDPE), Dolores says that she makes a point to find the best possible options not just for the present, but for the future as well. “There are options for homeowners in Macomb County that can have a much lighter effect on their credit while also allowing them to walk away from an oppressive mortgage.”
Dolores has developed a free report entitled, “Escape your Unmanageable Mortgage” that is accessible from her website, http://www.shortsaleinfomacomb.com
Dolores Gaskell is the Broker and Owner of Macomb Metro Realty, Inc. and has been selling real estate in Macomb County, MI for more than 30 years.