Come to one of our 2nd Saturday chats – be sure to RSVP at WHAT IS A SHORT SALE.
If you own a property and might be facing foreclosure, please know that short sales are a viable alternative that can offer a way out from under an upside down mortgage, with less damage to your credit.
This summary will give you a good comparison of Foreclosure vs Short Sale and the impact to your credit of each.
Buying a short sale vs a foreclosure has the benefit of the owner’s involvement and cooperation throughout the purchase. It takes longer and the price is not confirmed until the lien holders respond, but the owner is obligated to provide a Sellers Disclosure and to maintain the property until settlement.
For more information about short sales and how they work, check out Rothamel and Associates, the law firm I partner with for short sale negotiations.
Check out the overview below of the benefits of a Short Sale vs. Foreclosure:
These are only brief highlights, and there are many details to go over whether buying or selling. For a private consultation, please contact me: