Nearly a quarter of all homeowners in the United States are currently underwater. This means that they owe more to the bank than their mortgaged property is worth. Typically, if you are stuck in this situation, you are forced to foreclose and hand your keys over to the bank, but this is not your only solution. You can avoid a foreclosure by selling your house fast. Now, we’re sure you’re asking yourself, “why should I sell my house fast in Westminster?”, and don’t worry, we are prepared to give you the answers. Keep reading to learn about all of the consequences of a foreclosure that you can avoid by selling your home.
3 Consequences of a Foreclosure
- Harder to Find a New Home
A foreclosure makes it extremely difficult to have enough cash for a rental deposit or the credit ranking to get another mortgage.
- Destroys Your Credit
After a foreclosure, your credit score will drop anywhere from 250 to 280 points.
- Limits Your Job Prospects
Employers may run a credit check before hiring. Since credit reports include foreclosures, you may be seen as a security risk and miss out on job opportunities.
How Can I Sell My House Fast in Westminster?
Now that we answered you first question, you’re probably wondering, “how can I sell my house fast in Westminster?”. Luckily, you can avoid foreclosure and sell your house fast for cash by contacting FasterHouses.com. We buy houses in any condition in California. Get a cash offer by connecting with us online today.