Shannon Behnken from News Channel 8 did a great story highlighting an issue that affects thousands of former home owners in the Tampa Bay area. For her story she spent a good amount of time interviewing our own, Joe Gendelman, Regional Director for National Credit Federation.
Here is a link to the full story and you can read some excerpts below:
“The benefit of entering a short sale agreement is that you’ll be able to re-enter the housing market a lot quicker than having a foreclosure on your credit,” said Joe Gendelman, of National Credit Federation in Tampa.
Gendelman said he’s working with dozens of clients who went through short sales, but then found a foreclosure listed on their credit years later.
The problem is bank and credit bureaus have no special code to report a short sale, so when a new lender checks your credit, it often shows up as a foreclosure.
So thousands of Bay area homeowners who completed short sales years ago are now having trouble buying another home, or even a car.
“Forty percent of homes in the state of Florida are under water. So, it really creates a mountain that if people need to sell for some reason, many times they would have to be forced to do a short sale,” Gendelman said.
If you have gone through a short sale with your own property, you can call Joe Gendelman directly at 813-425-1364, or reach him by email: jgendelman@nationalcreditfederation.com. Also, Joe Gendelman is happy to offer no obligation consultations to anyone who would like a professional to review their credit report. Joe is trained and experienced in looking for inaccuracies, inconsistencies, out-dated, and un-verifiable information on a credit report that may be damaging your credit score. Call him today!
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