Real Estate Information Archive

I am sure you have heard the phrase before, but “location, location, location” has never meant more than when you are purchasing a home. It is important to remember that you can buy the right home in the wrong location. You can fix it up, renovate it, change its structure…but in most circumstances, you can’t move it. It is attached to the land. Identical homes can increase or decrease in value depending on their location. Choosing the best area for living and resale value is equally as important as choosing the ideal home. Here are a few things to be aware of when searching for the right location for your investment:

• Top Rated School Districts

Homebuyers with children often seek homes in highly desirable school districts. They are willing to spend more for a home in order to enable their children to go the “best schools.” So, even if you don’t have children in school, it will serve you well to purchase a home in a great school district. Best Schools in Montgomery AL

• Recreation & Nature

Homes on the water or near parks hold their value because people enjoy living where they can enjoy the outdoors. Being able to walk out your door and quickly be in a beautiful natural setting makes homes much more desirable. Parks, Trails & Natural Areas in Montgomery, AL

• Entertainment & Shopping

While some buyers seek out areas surrounded by nature, others may be looking for a home that enables them to walk to restaurants, movie theaters and boutiques. Some of the best “walkable” neighborhoods in Montgomery are Old Cloverdale, Garden District and Capitol Heights.

• Economically Stable Neighborhoods

Older neighborhoods that have survived economic recessions while maintaining evident pride of ownership appeal to buyers looking for long term stability. Montgomery's Historic Neighborhoods

• Public Transportation, Healthcare & Jobs

Some buyers will be looking for convenience. They do not want a long commute to work and want to have easy access to transportation and healthcare facilities. Montgomery Transit

So, when purchasing a home, remember…location, location, location! While the “best” neighborhoods may require larger investments, they are also the neighborhoods that will hold the highest resale value. When buying a home, the last thing you want to think about is selling it, but it is vital that you keep resale value in mind because, after all, a home will likely be the largest financial investment you will make in life and you want it to pay off in the end!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: planhillsborough.org, funinmontgomery.com, pinterest

August. How did it get here so fast? Seems like just yesterday we were finishing up what was probably the most challenging school year ever. But the new school year is starting and it’s time to get organized so that the transition from summer to actually GOING to school will go as smoothly as possible. Creating a drop zone for the items your kids need for school will prevent the chaos and craziness that ensues when you’re rushing out the door and bookbags, shoes, raincoats, and lunch boxes are nowhere to be found. Check out the following tips for creating a back to school drop zone:

1. KEEP IT SIMPLE

The whole idea is to create a space that can be maintained by your children. So, keep it simple. It is ok if you want to make it cute, but too much “stuff” defeats the purpose of keeping things organized.

2. DESIGNATE A SPOT THAT IS CONVENIENT

Your kids will be ready to drop their bags the minute they walk through the door, so the drop zone should be easily accessible. Picking the perfect spot will go a long way toward making this system work for your family. Home: Entryway & Drop Zone

3. USE HOOKS FOR HANGING BAGS

You can experiment with different ideas to see what works best for you and your family.Keep book bags off the floor and counter tops by providing hooks for hanging. Use labels of some sort to designate spots for each child.

4. MAKE ROOM FOR IMPORTANT PAPERS

There is nothing worse than discovering that you have no idea where the permission slip for your child’s field trip is on the day of the field trip! It is probably not the end of the world, but if you have to get to work, chances are you don’t have time to run by the school and sign another slip. Make sure that never happens by having a special place for important school related papers.

5. DESIGNATE A SPOT FOR TRASH/RECYCLING

Kids’ book bags can easily and quickly become receptacles for “trash”. Papers, wrappers, dirty tissues etc. get stuffed in every corner and crevice of your child’s bag.If you’re going to provide a “drop zone” for book bags and lunch boxes, make sure you provide trash and recycling containers where they can clean out said bags/boxes.

6. INCLUDE A PLACE FOR SHOES

If you don’t want your kids running through the house in their outdoor shoes, be sure to have a shoe rack of some kind where they can place them.This is also a sure way to make sure they can find their shoes in the morning rush out the door to get to school on time!

7. BE CREATIVE

There are so many good ideas for drop zones available on the internet.  Whether you are utilizing a small space or you have a whole mud room to work with, be creative and make it a space that fits in with the décor of your home.

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: designinsidethebox.com, justagirlandherblog.com, designinsidethebox.com, pinterest.com, hgtv.com

Peace of mind. That is something all homeowners strive for when it comes to home security. It is easier to sleep soundly at night when you know you have a great security system protecting your home. And thanks to new wireless technologies and smartphones, there are a plethora of home security options to choose from. When choosing a security system, it is important to think about various aspects:

• How does the system work?
• How much does it cost?
• Which features are most important to you?

What Are the Best Features to Include in a Security System?

The truth is, the security system that is right for your neighbor may not be the right one for you. From design to cost to level of service, you need to do your research and find one that best suits your needs and budget.

The first step you need to take when looking at home security options is to decide if you want to hire a professional alarm company to install and monitor your system or if you want to go the DIY route. Let’s take a look at the pros and cons of each:

Professionally Installed Security System

Pros

• Pros install the system for you.
• Installer will make sure it is working properly and teach you how to operate it.
• You may get a discount on services if you have your system professionally installed.

Cons

• Installation fees can be expensive and cost prohibitive.
• They will have a standard way to set up your system and you will not be able to customize it (or you may be charged more for customization).
• It may be inconvenient to schedule the installation since someone will have to be home while it is being done. Top Pro Home Security Systems

DIY Security System

Pros

• You will save money on installation fees.
• You can set it up on your own time; when it is convenient for you.
• You can set it up exactly how you want it.
• You don’t have to allow strangers in your home to set up the system.

Cons

• You do the work. If you are not handy, it could be challenging and you risk making mistakes.
• You have to learn how to operate it on your own; no professionals available for questions.
• You may pay more for equipment and warranties that might have been discounted if you paid for professional installation. Best DIY Home Security Systems 2021

Whether you have a professional set up your home security package or you decide to do it yourself, you will sleep better at night knowing your home is being protected.

If you are in the market to buy or sell a home (or both), let  Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and ch check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: mymove.com, adt.com, protecsecuritysystems.com

If you are preparing to list your house for sale, you may be wondering if the financial reward will be worth the time, effort, and money to fix up things that are in disrepair or that are dated. The answer to that question depends on a myriad of circumstances such as the current real estate market, the condition of competing inventory and whether the renovations that need to be made generally provide a return on investment.

Some home buyers are looking to purchase a "fixer upper". They are looking for properties priced to sell, perhaps because they do not qualify for more expensive homes or maybe because they want to make a profit by fixing the home up themselves. Most “fixer” buyers want to do simple repairs such as painting walls, replacing light fixtures and putting in new carpet. Only a few want to take a house down to the studs and completely redo it. These potential buyers will want a price for the home that will allow for all the repairs, the inconvenience of doing the work, and often a bit more. For example, if a home is worth $200,000 fixed up but needs a new roof, and the roof costs approximately $10,000, a buyer most likely will not offer $190,000 for this home. The reason is that they can probably find a similar house that already has a new roof for $200,000 and save themselves the headache of replacing it themselves. A buyer in this situation might offer $175,000 or less, in which case it would make more sense for the seller to replace the roof and sell it for $200,000.

It’s important to note that many buyers are looking for "turn-key" homes. They fear having to make major repairs because they might be costlier than anticipated or other problems might be revealed. Even if the price is right, homes listed for sale in “as is” condition might not attract as many buyers.

However, before doing major renovations, there are many things to consider.

Smart sellers will research what their home’s market value will be once improvements are made and compare it to the cost of the renovations. If an upgrade will not provide return on the investment, it probably does not make sense to do it. Knowing the condition of your competition is helpful. For example, if other homes for sale in your neighborhood all have modern kitchens, it might make sense to update yours. This does not mean you should tear it down and start from scratch. Often a minor kitchen remodel will suffice. Also, keep in mind that kitchen and bathroom remodels are known to bring the best return on investment.

Start by making a list of the things in your home that are dated or in disrepair and then prioritize.  Here is a list of 10 minimum improvements to make before putting your house on the market:

• Patch all holes and cracks in walls and ceilings.
• Fix all appliances and HVAC systems.
• Repair leaky faucets.
• Replace worn carpeting.
• Repaint dark or marred walls in neutral colors (not white).
• Replace broken windows.
• Repair the roof.
• Change dated light fixtures/ceiling fans.
• Replace old linens/window coverings.
• Fix any code violations.

If your real estate market is a sellers’ market and homes are moving quickly, you can get by with fewer fix ups, however a home that needs repairs will still deliver a lower price. If it’s a buyers’ market, people might not even be willing to look at homes that need repairs. A professional Realtor like Sandra Nickel can help you understand what the current market is like in Montgomery right now; and assist you in determining what home renovations will help you get the best price when you sell!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: gobankingrates.com, tidewatermortgage.com, keepingcurrentmatters.com

With life getting back to “normal”, many people will be traveling to visit family and friends this summer. If you are expecting house guests, you will want to prepare your home so that is comfortable and welcoming. Here is a list of things to do before your guests arrive:

• Buy Fresh Flowers - Even if you don’t keep fresh flowers in your home all the time, it’s nice to splurge a little to have them for your guests. You don’t have to spend a lot of money. You can often find lovely bunches of flowers at your local grocery store. If you have a green thumb and grow flowers in your yard, that is even better! Just clip some and place them in pretty vases around the house.
   
• Clean Out and Restock the Refrigerator - Get rid of any lurking left-overs as well as any condiments that have passed their expiration. Plan your meals for the duration of the visit and Stock the Fridge accordingly. Make sure you know your guests’ dietary needs and allergies prior to their arrival.
   
• Make a Spare Key - Unless you plan to spend every second of the visit with your guests, you will want to give them a key so that they have the freedom to come and go if you are not home.
  
• Have Extra Toothbrushes on Hand - You will be doing your guests a great favor by having extra personal items on hand in case they have forgotten something. There is nothing worse after arriving from a long trip than having to go back out to purchase forgotten items. Other items to have on hand: razors, deodorant, feminine hygiene products etc.
   
• Clean Out the Guest Room Closet - If you’ve been using your guest room closet for storage, now is the time to clean it out. Even if you don’t clear it out completely, make sure there is enough space for your guests to store their bags and hang clothes.
   
• Declutter - Having a cluttered home might be ok when it is just you and your immediate family, but you will want to have a neat and tidy home for your guests. You don’t have to go overboard. You can leave out things you use daily, like the bag of dog food or the tv remotes. But put other extraneous items away for the duration of their stay.
   
• Wipe the Ceiling Fan Blades - There are some things that often get overlooked in your normal cleaning routine.  Make sure to wipe down the ceiling-fan blades along with other nooks and crannies you might have missed before. It is also a good time to change your air filters if they have not recently been changed.
   
• Replace Shower Curtain Liner - If you have not changed your shower curtain liner in the  guest bathroom recently, check it to make sure there is no mildew.  Liners are inexpensive and new one will give the bathroom a fresh feel. 
  
• Prepare Guest Bath - Speaking of the Guest Bathroom - make sure it is fully stocked with plenty of toilet paper, facial tissues, shampoo, conditioner and body wash. Splurge on some fragrant fancy soaps to place on the sink. Provide a stack of freshly laundered towels so that your guests do not have to go looking for them.

Having guests in your home can be a little stressful sometimes. Preparing for their visit ahead of time will alleviate some of that stress so that you can enjoy their visit to the fullest!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: realtor.com, expatica.com, hgtv.com

If you love the idea of bringing nature indoors in the form of houseplants, but you also have some precious fur babies living in your home, then there are some things you need to know. Not all houseplants are safe for our furry friends.  It’s important to do your homework and find out which houseplants will add the beauty of nature to your décor while also being safe for your pets!

Luckily, there are plenty of options available that are not toxic for pets. Here’s a list of a few houseplants that are known to be safe for cats and dogs to get you started:

• African Violets – These low maintenance plants come in a range of purple and pink hues. Keep their soil moderately wet and water them by letting them soak up the water from the pot’s drainage hole to keep from damaging leaves and petals.
  
• Christmas Cactus – Unlike another holiday plant, amaryllis, Christmas cacti are not toxic to dogs and cats.  While they can still cause a tummy ache if eaten, they are safer than other festive holiday plants
  
• Friendship Plant – This friendly plant, named for the ease with which it can be divided and shared, is a safe choice for your cats and dogs.  Friendship plants tolerate medium and low light and love humidity.
  
• Lace Flower Vine – This pretty plant grows best in a hanging basket.  That means it should be well out of reach of your pets, but even if they got ahold of it and ate some, it would not harm them. Hang it in a spot with bright, indirect light and water when soil feels dry. It’s trailing stems will grow about three feet long.
  
• Lipstick Plant – This unique plant has blooms that resemble tubes of lipstick!  It’s a tropical plant that thrives in bright light. It can grow up to 20 inches tall and needs to be watered frequently. It’s a great pet-friendly option for adding some bright color to your space!
  
• Polka Dot Plant – Add some more color with a polka dot plant.  These plants have patterned leaves in colors like pink or white. While it can grow up to three feet tall, it will usually remain on the small side (12 inches or less) when planted in containers.  It needs bright, indirect light and moist soil.
  
• Spider Plant – If you’re looking for a houseplant that is safe for pets and easy to grow, you can’t go wrong with a spider plant. They grow  best in bright, indirect light but can tolerate low light as well.  Be sure to let the soil dry between watering them for best growth.
  

While the plants listed (and many others) are technically safe for pets, it is important to remember that they might still get tummy aches if they ingest them. The best practice is to keep houseplants out of reach of your pets. If they should manage to snack on a plant, watch them closely for any reactions.

If you are in the market to buy or sell a home (or both), let  Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at  334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: hartz.com, pinterest.com, almanac.com, plantingman.com, homeaddict.io, nobelpotsandpavers.com, pinterest, logees.com

Summer. It’s hot. Really hot! With temperatures in Montgomery hovering near 90 degrees, you may have already seen the numbers going up on your power bill from your air conditioning running non-stop. But there are ways to help keep your house cool during heatwaves that will not only allow you to be more comfortable but will also assist in lowering your power bill.

Here are some tips for keeping cool when it’s HOT, HOT, HOT outside:

• INSULATE YOUR ATTIC

You can make your home more energy efficient by installing quality attic insulation. Good insulation will prevent heat from going from the attic to your living space. With the right insulation, you can reduce cooling costs up to 50% because fewer “on” cycles for your air conditioner will be necessary to maintain the temperature you want. You will also get a great return on your investment with an insulated attic space if and when you sell your house.

• MAKE SURE ALL WINDOWS AND DOORS ARE PROPERLY SEALED

It is easier to keep your house cool when all the doors and windows are properly sealed. It is a good idea to have an energy audit done by your local utility company to find where cooling losses are occurring. Energy Consultants in Montgomery

• IF YOU LIVE IN A HISTORIC HOME OR IN A LOCALLY DESIGNATED HISTORIC DISTRICT 
  Window replacement is generally not desirable or an available option.  In these instances, invest in storm windows approved by your architectural review body.
   
• REPLACE DOOR WEATHER GUARDS

Replacing weather guards around your exterior doors is an inexpensive way to keep your home cooler. You would be surprised by how much cool air can be lost in the little cracks if the weather guards aren’t in good shape.

• CHANGE YOUR CEILING FAN TO A COUNTERCLOCKWISE ROTATION        

Just having a ceiling fan can reduce cooling costs by up to 40%. When it is hot, be sure to have your fan on a counterclockwise rotation so that it is pushing cool air down instead of up toward the ceiling.

• KEEP HEAT OUT WITH WINDOW TREATMENTS

It is hard to keep rooms cool when heat is pouring in through the windows; especially south and west facing rooms. It’s a good idea to keep shades drawn in these rooms. Also use thick, dark curtains that have a white reflective backing. They are best at keeping the heat out.

• REPLACE OLDER WINDOWS WITH NEW ENERGYSTAR QUALIFIED WINDOWS

If you have older, single-pane windows, it is likely they are drafty and allowing air conditioning to leak out. Most older windows also have poor or no insulation around the window frames. While it may seem like an expensive investment to replace all your windows, it will be worthwhile in the end with all the money you will save on your energy bill.

• SCHEDULE REGULAR MAINTENANCE FOR YOUR AC UNIT

Don’t wait until your AC isn’t working to have someone inspect it. Have a professional technician inspect and review your complete system to be sure that it is working efficiently. That way you can manage any problems before the system breaks down and you are left to deal with the heat while it is being fixed.

• INVEST IN A SMART THERMOSTAT

A smart thermostat will allow you to set the temperature to be slightly warmer during the hours you are not home, and then to adjust to a cooler temperature one or two hours before you get home. No more wasting air on an empty house or coming home to a “sauna”.

• REPLACE AC FILTERS REGULARLY

When it is hot outside, your AC filters are working harder than usual.It is recommended that you replace your AC filters every month; especially during the hottest months when it is running more frequently. When air flows easily, your AC system runs more efficiently.

• USE A DEHUMIDFIER

When there is a lot of humidity, the whole house can feel warmer, damper, and very uncomfortable. If you want to feel cooler in high humidity, consider purchasing a dehumidifier to help remove moisture from the air. Your house will feel cooler even when the temperatures soar.

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: aarp.org, pinterest, johnsonandsons.com, healthline.com

Not everyone is naturally tidy. For some, it takes conscious effort to keep a home neat and clean. Wishing that you were more organized and orderly isn’t going to make it happen. You must take action!  Sometimes it’s more about what you DO NOT do.  Here are 5 things people with tidy homes DO NOT do:

1. Tidy people do not allow the mess to accumulate until it becomes overwhelming. They are smart and know that cleaning a whole house all at one time is no fun. So, they have  daily tasks and strategies for keeping their homes in order. By maintaining a routine, they prevent their homes from ever getting too messy.
   
2. Tidy people never run out of cleaning supplies. Have you ever gone to clean the bathroom and realized you have no toilet bowl cleaner?  Do you remember the frustration of having to stop what you were doing to go to the store and purchase more cleaning supplies?  Tidy people do not let that happen. When you have an established routine for keeping house, it’s easy to track when you are running low on cleaning supplies. Keep a list so that next time you go to the store you will remember to pick up knew supplies before you run out.
    
3. Tidy people do not play first, clean later. You won’t find a tidy person sitting on the couch watching TV while there is a sink full of dirty dishes in the kitchen. Their motto is “better now than later”.  Because really, how can you enjoy anything if you are anticipating having to do chores afterward?  Take a few minutes to get things done as needed and then you can truly enjoy your free time.
   
4. Tidy people do not store things on the floor. There is no “drop and go” in a tidy person’s house. Everything has its place and there is a place for everything. Letting things stack up on the floor (think books, magazines, laundry baskets, back packs, the box of items waiting to go to the thrift store) can make your house seem a lot messier than it really is.
    
5. Tidy people do not over decorate. "Flat Surface Syndrome" does not exist among tidy people. Meaning, just because there is a flat surface, that doesn’t mean it must have something on it. A highly decorated surface can often look cluttered and messy. Also, tchotchkes are dust collectors, creating more for you to clean. That doesn’t mean you can’t have any special, decorative items around your house. Just limit them so that every surface isn’t covered with them.

If you are not neat and orderly by nature, it might take a while to break bad habits and become a tidy person. Start with these five “DO NOT” tips and before you know it, you too will have a tidy home!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: aliciainasmalltown.com, lifesavvy.com, amyleehayes.com

There are a lot of perks to home ownership, but let’s face it; it can be expensive.  You are not only making a mortgage payment every month, but you are also responsible for maintaining your home. But there are lots of easy ways to save money without ever leaving the house. Follow these tips and start saving today!

1. Save money on your electric bill by utilizing natural ways to cool your house.  During the spring and summer, open your windows and use fans to get the air circulating through your home. Ceiling fans will help too. Moving the air through the house will help cool it down quite a bit.
   
2. Another way to save on your electric bill is to line dry your clothes. Dryers use a lot of electricity, and there are many good reasons to choose line drying.  Not only is it an energy saver, but it may extend the life of your clothing!
    
3. Get rid of cable television. With all the options for streaming shows on apps like Hulu and Netflix, you could save a lot of money by ending your relationship with cable and using apps to stream your favorite programs.  You might be surprised to discover that even after upgrading your internet, you will still pay less per month than you did for cable television.
    
4. Always unplug.  Even when you are not using an appliance, if you keep it plugged in, it is still pulling electricity. It may not seem like much, but over years you can save quite a bit by unplugging when not using things. Chances are you are not going to want to be bothered with walking around your house to unplug everything, but to make it a little easier, consider using power strips so you can just unplug that at the end of the day.
    
5. Use a shopping list. This may sound silly, but when you go shopping without a list you often come home with way more than you need. Make a list and stick to it. It will not only make shopping more efficient, but it will save you money in the long run.
   
6. Learn how to do basic home maintenance. You can save a ton of money over time by being able to take care of home maintenance yourself.  By doing small tasks like replacing filters and cleaning out dust, you can lengthen the lifespan of many appliances, thus saving money as well. 
    
7. Bundle up and save on heating costs. Invest in quality, warm blankets so you can turn the heat down and still be warm and cozy when you sleep at night.  Decreasing your heat by just a few degrees can save you a lot of money over time.
    
8. Create a budget and try to stick to it. By creating a budget, you will be more conscientious about your spending. It will not only help you to see where you are spending too much, it will also assist you in prioritizing your spending.

Saving money is important.  Whether you’re saving for retirement or for a special family vacation, it’s the little things you do that make a big difference in the long run!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: thebalance.com, southernliving.com, housebeautiful.com

The possibility of losing your home to foreclosure is frightening. You likely feel a sense of helplessness and hopelessness. Not only do you have to worry about where you are going to live, but your future credit rating can be ruined as well. However, if you act quickly after getting a foreclosure notice, you can possibly avoid losing your home.

Here are some tips to help you deal with this crucial situation quickly and efficiently:

• If you can, pay the total amount past due on your loan. The lender would much rather have your money than your house, so this should prevent foreclosure if there are no mitigating circumstances. Of course, chances are that if you have received a foreclosure notice it is due to the fact that you don’t have the funds available to get current on your loan. But don’t despair…there are other options.
   
• If making your monthly mortgage payment is beyond your ability, you can attempt to modify the terms of your loan. Depending upon the circumstances, this could mean reducing your monthly payments or interest rate.  You can seek guidance from your lender, or you may be eligible for the government assistance through the Homeowner Affordability and Sustainability Plan (HASP), which will allow you to restructure your mortgage.  The purpose of HASP is to help people who owe more than their home is worth or have more debt on their home than income. Homeowner Affordability and Sustainability Plan
   
• While the goal is to keep your home, foreclosure may be unavoidable. You may want to consider attempting a short sale on your home. This requires permission from your lender. The purpose of the short sale is to sell the home for the amount of money needed to pay what you owe to your lender. If you can’t sell the home for the needed amount, you may be responsible for paying back the remaining balance of the loan.  Short Sale
  
• As a last resort, you may want to consider declaring bankruptcy. It is a huge decision that should not be made lightly because it can have some harsh consequences.  In addition, it may not allow to keep your home, so it is definitely risky. Filing bankruptcy means that all lenders and creditors you have are given a stay on your loans, meaning they cannot collect until your bankruptcy case is settled. However, this stay is temporary. If the foreclosure process has already been started by your lender, they will not be able to repossess your home until all issues have been worked out. You may be able to restructure your debts and create a payment plan that will allow you to keep your home, depending on the type of bankruptcy you file for. But there is also a chance that you might have to sell your home as part of the liquidation of your assets. It is vital that you speak to a financial advisor before going this route.

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: facebook, fool.com, moveinphilly.com