Posts Tagged ‘Ocala FL Foreclosures’
Ocala Short Sales Financial Repercussions
A lot of people in the Ocala area owe more on their house than it’s worth. Some for one reason or another they just can’t their make the mortgage payments any more. Others question the idea of continuing paying a $300,000- mortgage on the house that isn’t worth $200,000- any more.
There are financial repercussions when you stop paying your mortgage. Here is a great link to a recent article in the Orlando Sentinel that lays out a time line of exactly what happens when you stop masking your mortgage payments.
Your credit score will take a hit up to 200 points. Your credit card interest rates will go up. Insurance rates are tied to your credit score and they will be effected. Finally if you lose you house you will need to become a renter. Most landlords will want a good credit report before renting.
Too many people don’t know what to do if they can’t pay their mortgage. The worst thing you can do is nothing. Call or email me and if I can’t help you I’ll refer you to someone who can help.
A Foreclosure Home in Marion Oaks Ocala FL
Ocala foreclosure home
Built 2007
1818 sq ft living area
3 /2 / 2
.24 acre lot
Marion Oaks
Sold Price $110,000.00
I represented the buyers in this purchase. This home was never lived in but had sat vacant for most of 2 years but easily passed a home inspection.
If you need more info on on Ocala Foreclosures I have everything you need on my free Ocala Foreclosure Guide.
Ocala, FL