I Have Completed My Short Sale. Part 3 of 3: I Want To Rebuild My Financial Status After My Short Sale. Who Can Help Me?

Seeking guidance for your financial decisions may be one of your best decisions yet. Many individuals are hardworking citizens yet they constantly find themselves in a financial rut. This may not necessarily be a result of the individual’s hard work ethic but the individual is unaware that the system typically works against them if they lack proper guidance. You can work hard, take two to three jobs, and still find yourself in financial debt. However, if you have someone who is guiding your energy toward financial freedom, then your hard work will actually get you to where you want to be.

*I do not benefit myself in any way from endorsing Dave Ramsey. I simply believe in his ability to guide many people into financial freedom.

Stop trying to simply increase your income to solve your financial problems. Rather, focus your efforts more on stabilizing your financial situation with the income you are already receiving. We recommend Dave Ramsey’s Babysteps program as we have found Dave Ramsey has been one of the best financial advisors having helped millions of individuals achieve financial freedom. He helps individuals get out of the system of perpetual debt, learn how to budget, save, invest, build wealth, give, and much more.

When should I purchase another home?

We do not recommend purchasing another home until you are financially ready. During this financial rebuilding, there will be the temptation where right after you save enough money for the down payment, you’ll want to buy another home immediately. Although you may enjoy the purchase of the new home momentarily, you will be right back where you were and possibly worse depending on the situation. Make sure you get financial wisdom prior to purchasing your next home and make it a goal to get a 15-year fixed mortgage or do a 100% cash down on your next home.

What is your goal? If it is to purchase another beautiful home, then there needs to be planning or expect to rent for life. Now that you have freed yourself from the costs of homeownership, use that money to work on eliminating your debt, building your assets and savings, and living in a beautiful home financially free. If you haven’t done a short sale yet but are struggling with your mortgage payments, we highly recommend you talk to HUD approved counselors and find out all the options for your home. If short sales are a viable choice for you, submit your information in the short sale tab above and we will provide you with a free consultation with one of our experts.

Hope this helps

Peter