Sell Your House
For Fast Cash

Although real estate prices have declined over the last several months, by all accounts, there still may be more to come. It doesn't matter whether other commodities are experiencing larger declines, it's painful to see the value of your property decrease. We've just come off a very favorable selling market, some houses being "bid up" as buyers offered more than the sale price just to get the house.

If you've been a landlord or for some other reason you have a vacant house on your hands, you might be thinking, I'll wait it out. The real estate market always swings back around". You're probably right.

But let's consider two more items that should be factored into your equation, the time value of money and the value of your time.

If you are a landlord or have a vacant house to fill, let's look at the rental market. First of all, being a landlord is a lot of hard work. Besides dealing with leaky toilets, interviewing prospective tenants, and doing plenty of paperwork, what about the time factor? Unless you can afford a property manager which can become costly, you are pretty much "on call 24/7" for any problems that arise.

With inflation soaring and an uncertain economy, renters have less money to spend on housing which translates into your inability to charge enough rent to make it a profitable venture. So although we have an existing housing shortage in the country at present, the renters who can afford your house may have less income available to spend on housing. Wages overall are not keeping up with inflation.

So you have great tenants, but the air conditioning or heating needs repair or replacement. Inflation obviously impacts the cost of repair or replacement. What if the house needs a new roof? Again costly. Remember inflation is always passed on to the end user. As the cost of goods ramps up, so does your cost.

Regarding the time value of money, although real estate is traditionally a good investment, maybe you could use some money now to do some other things. So a cash offer to a real estate investor may look good right about now.

"Opportunity often comes disguised in the form of misfortune, or temporary defeat."...

Napoleon Hill

"You can never do a kindness too soon, for you never know how soon it will be too late." ...

Ralph Waldo Emerson

According to Google...a credit score is a 3-digit number that is calculated from information on a credit report and generally ranges between 300 and 850. A GOOD credit score is 670 to 739 on the FICO score range while a credit score of 661-780 is good on the Vantage Score Range ( Vantage Score Solutions LLC is a consumer credit scoring company based in Stamford, CT. It was created in 2006 and is jointly owned by the three major consumer credit reporting companies: Equifax, Transunion, and Experian).

1. 300 - 579 = poor
2. 580 - 669 = fair
3. 670 - 739 = good
4. 740 - 799 = very good
5. 800 - 850 = excwptional

Defaulting on a loan or credit card debt places a negative mark on your credit reports that can hurt your credit scores for 7 years, but it also can signal future events that do even greater damage to your credit.

Default typically occurs if you go 90 days without making a scheduled debt payment. That default entry stays on your credit report for 7 years.

Defaulting on a mortgage usually triggers foreclosure. (Foreclosure happens when a borrower fails to keep up with their mortgage payments, and the lender who issued the loan takes possession of the property and sells it to try and recoup the funds it lent.)

How does a foreclosure impact your credit?

A foreclosure is considered a serious derogatory event in your credit history, second only to bankruptcy in terms of severity.

Rather than foreclosure, some people opt to work with their lender (if the lender is willing) to a short sale of the property. ( A short sale home is usually sold for "less than" or "short of"-the remaining amount of the mortgage loan. Once the home is sold the lender will either "forgive" the difference or obtain a deficiency judgment against the original borrower).

"Formal education will make you a living, self-education will make you a fortune."

---Jim Rohn