Houston TX – It always amazes me how some people will do anything to have perfect credit. They would rather go hungry than risk harming their prefect credit rating.

A good example is a guy I will call Seth. Seth has perfect credit. He has worked to keep perfect credit for the last 12 years.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Seth has a several credit cards with high balances. He ran the balances up when the economy was strong.

Today, he can barely afford to make the minimum monthly payments. However, Seth was recently turned for a car loan, despite his perfect credit. Why did that happen?

I thought that perfect credit guaranteed that you could get a loan! Well, it turns out that Seth has too much debt.

Most banks won’t lender to someone with a high Debt to Income Ratio (DTI.)They calculate that number by adding up all the bills that you pay each month.

They use these ratios to determine if you have enough money to pay them each month. Seth can barely afford to pay the minimum monthly payments on his credit card debt.

If he pays them, then he can’t afford a car payment. His family needs a car more than they need perfect credit.

In my opinion, he should stop paying the credit cards. He should use the income he does have to take care of his family.

Having a car is more important than perfect credit. If they don’t have a car, then it will disrupt his work. If that happens, then his income could drop even more.

Then he won’t be able to afford the credit card payments anyways. Besides, there are ways he can repair his credit later on, after the economy has recovered.

At least he will be able to afford living expenses in the meantime. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at soldbymichelle@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 832-274-5007

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Houston loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Michelle Gonzales.

Michelle is a Real Estate Agent at RE/MAX 360. Houston Short Sales Realtor:

Phone: 832-274-5007. soldbymichelle@gmail.com.

“Educating the Homeowner, One by One!”

View My homes for sale at www.yourhoustonhomesource.com.

Michelle Gonzales specializes in loan modification assistance and short sales in Houston Texas. Houston Loan Modification Help, Houston Short Sales. Houston Short Sale Realtor Houston TX Short Sales. Houston Realtor.

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Important Notice

Michelle Gonzales, RE/MAX 360, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Gonzales’s personal views and do not reflect the views of RE/MAX 360.

This information on Houston Short Sales: Why Do Some People Worship Perfect Credit? is provided as a courtesy to our viewers to help them make informed decisions.