For those interested in seeing Europe without the constant, hectic bustle of tourism, relaxing cruises on the Rhine River have proven to be a hit. In addition to a never-ending opportunity to learn to speak German, here is a list of several fun activities to partake in during a Rhine River cruise: Allstate: This town includes a medieval castle, a parish church dating to 1794, a historical museum, and numerous delicious restaurants. Glattfelden: Situated on the River Glatt just above its junction with the Rhine, this town is the hometown of Swiss writer Gottfried Keller and is frequently referred to in his novel “Der grüne Heinrich.” Over an old stone bridge is the nearby old town of Eglisau. Rheinfelden: A little town of 7,000 inhabitants situated on the left bank of the river, Rheinfelden is home to a popular salt-water spa, ancient walls and towers, the Fricktaler Museum, and St. Martin’s Church, which dates back to the 15th century. German Beer: Germans produce the best beer in th...
Losing your home due to the inability to meet the monthly payment obligations is perhaps the worst financial scenario you could ever face. truthfully, a foreclosure puts a huge blemish on your credit report, where improving it could take several years. Further, a mortgage lender may file a legal case versus you as part of the foreclosure action. All this would then hinder your ability to secure any kind of loan, leaving you completely helpless.
Think about a Short Sale as a Better Credit Decision
The downfalls of a foreclosure are frightening and sometimes irreparable. Hence, any choice that offers a solution to the foreclosure is a no brainer. A short sale is one choice for homeowners who are mired in financial turmoil. To be clear, a short sale involves selling your property at a price that is below the amount you owe the mortgage lender.
The best part about short sales is that they create a very good situation for all parties involved in the transactions:
* The property owner is able to stave off foreclosure and get their loan paid off.
* The lender is able to get paid a portion of the loan back without going through all the drawn out litigation process, high legal fees, of foreclosure and re-selling of the home
* The buyer is able to buy the property at a lower price.
Thinking about Doing a Short Sale? Keep the Following Factors in Mind
The first safety measure you should take when settling your loan payoff through this process is to get it in writing from the lender, stating that all your debts are absolved. Other considerations to bear in mind to avoid any potential negative consequences of the process are:
* Guard your credit rating: Do not forget that a short sale is listed on your credit report. Therefore, get the bank to report it in the most positive light. For instance, if your report merely states that the loan is satisfied, your credit score will not be drastically affected. On the other hand, if your bank reports you settled for less than the actual amount owed, your FICO score will drop automatically.
* Get tax advice: A liability for taxes on a short sale surfaces when the lender claims that the debt forgiven should be shown as an income. A tax attorney can help you make some choices to limit this liability.
While a short sale is definitely a superior alternative to foreclosure on several grounds, a borrower often has a hard time trying to convince the lender to agree to them right away. This is because the lender has to agree to forgo a part of the mortgage claim that they want to recover. Therefore, when faced with a financial crunch, a short sale must be executed as soon as possible. The longer you wait, the greater the amount of arrears, and the less likely that the bank will be to accept the process. With that in mind, I have seen homeowners stay in their properties for many months without paying their mortgages and still complete a successful transaction. Of course this is a bit tricky and I would never recommend this strategy to a client.
If you, or someone you know, is facing a foreclosure scenario you will want to have a seasoned professional assist you in examining your strategies. Certified short sale specialist and Scottsdale AZ Real Estate agent Jen Wehner has been the #1 producer for people who want to avoid foreclosure in Arizona for all Prudential real estate brokerages. There is no fee to speak to Jen and you can get feedback on what the best option is for you. Having an expert work with you could guard you, your home, and your financial future.
Think about a Short Sale as a Better Credit Decision
The downfalls of a foreclosure are frightening and sometimes irreparable. Hence, any choice that offers a solution to the foreclosure is a no brainer. A short sale is one choice for homeowners who are mired in financial turmoil. To be clear, a short sale involves selling your property at a price that is below the amount you owe the mortgage lender.
The best part about short sales is that they create a very good situation for all parties involved in the transactions:
* The property owner is able to stave off foreclosure and get their loan paid off.
* The lender is able to get paid a portion of the loan back without going through all the drawn out litigation process, high legal fees, of foreclosure and re-selling of the home
* The buyer is able to buy the property at a lower price.
Thinking about Doing a Short Sale? Keep the Following Factors in Mind
The first safety measure you should take when settling your loan payoff through this process is to get it in writing from the lender, stating that all your debts are absolved. Other considerations to bear in mind to avoid any potential negative consequences of the process are:
* Guard your credit rating: Do not forget that a short sale is listed on your credit report. Therefore, get the bank to report it in the most positive light. For instance, if your report merely states that the loan is satisfied, your credit score will not be drastically affected. On the other hand, if your bank reports you settled for less than the actual amount owed, your FICO score will drop automatically.
* Get tax advice: A liability for taxes on a short sale surfaces when the lender claims that the debt forgiven should be shown as an income. A tax attorney can help you make some choices to limit this liability.
While a short sale is definitely a superior alternative to foreclosure on several grounds, a borrower often has a hard time trying to convince the lender to agree to them right away. This is because the lender has to agree to forgo a part of the mortgage claim that they want to recover. Therefore, when faced with a financial crunch, a short sale must be executed as soon as possible. The longer you wait, the greater the amount of arrears, and the less likely that the bank will be to accept the process. With that in mind, I have seen homeowners stay in their properties for many months without paying their mortgages and still complete a successful transaction. Of course this is a bit tricky and I would never recommend this strategy to a client.
If you, or someone you know, is facing a foreclosure scenario you will want to have a seasoned professional assist you in examining your strategies. Certified short sale specialist and Scottsdale AZ Real Estate agent Jen Wehner has been the #1 producer for people who want to avoid foreclosure in Arizona for all Prudential real estate brokerages. There is no fee to speak to Jen and you can get feedback on what the best option is for you. Having an expert work with you could guard you, your home, and your financial future.
About the Author:
Jen Wehner is an top producing Real Estate Agent located in Scottsdale Arizona. If you would like to discover more about buying or selling homes in Arizona, click here SCOTTSDALE REAL ESTATE or you can visit Jen's real estate blog here ARIZONA Real Estate AgentS