FOR IMMEDIATE RELEASE
Andover, MN – May 9, 2012– For homeowners in danger of losing their home, walking away might seem like an attractive solution. “Many distressed homeowners in the Twin Cities & surrounding suburban areas have been getting bad advice when it comes to strategic default,” said Jeff Firnstahl of Team Firnstahl Real Estate Services. “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,” Firnstahl 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 Firnstahl, “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), Jeff says that he 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 the Twin Cities that can have a much lighter effect on their credit while also allowing them to walk away from an oppressive mortgage.”
Jeff Firnstahl has developed a free report entitled, “Escape your Unmanageable Mortgage” that is accessible from his website, www.TeamFirnstahlHelps.com.
If you’d like more information about this topic, or to schedule an interview with Jeff
Firnstahl, please call Team Firnstahl’s Client Care Manager Brenda Davis at 763-587-7200 or email Brenda at clientcare@teamfirnstahl.com.
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