Sometimes answering the phone is a predictable sport.
When home values drop 50% and the economy is shedding jobs like I wish I could burn calories writing posts (lots and fast), it seems that every call I get is so… predictable.
Hello, can you just answer one simple question for me? Do I have to be late on my payments in order to get help from my bank?
I have been asked this question no less than about 200 times in the last 2 years.
And usually after someone asks me the question, it is followed by fairly lengthy explanation of how they have never been late on their mortgage payment, have never been late on anything – and currently have a 700 (or higher) credit score.
In short, the callers are stressed out.
As with many of the larger decisions in life, often times the stress of knowing you are going to have to make a decision is worse than the actual decision making itself.
Another thing that many people won’t tell you when you are short-selling your house is that once you make the decision to actually do it, your stress level will go down.
Or at least mine did.
And many other people that I have talked to have said the same thing.
Once you actually make a decision as to what the best choice is for your particular situation, your stress level will decrease.
So if you happen to be one of those people with a perfect credit score who finds that you are staying up late worrying about whether or not the time has come to short-sell your house, I have good news for you:
Once you make the decision – whatever it is – your stress level will decrease.
About the Author:Justin McHood calls himself a “Mortgage Commentator” and works for Academy Mortgage Corporation. You can find his loan officers at Ten Day Close and read more of his thoughts on the mortgage business on Zillow’s Mortgages Unzipped Blog. You can also find him at most East Valley Friday Nights gatherings. He’s the one in the blue shirt.
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