Posted by: rgmorgan | March 12, 2010

Short sale or foreclosure?

Unless you have been on a prolonged vacation you’ve been inundated recently with information about foreclosures and short sales. National TV news, local TV news and newspapers as well as every known expert has chimed in to provide advice. My purpose today is to make sure any decision you make is an informed one. There are different consequences depending how you proceed. Credit rating impact is one area you need to consider (its greater with a foreclosure). If you plan on purchasing a home again the time frames before you can do so are also different depending on which way you choose.
If you find yourself in a situation where you need to decide whether to walk away from your home or consider a short sale, don’t make the decision in a vacuum. Consider talking to a Real Estate agent who has knowledge of the short sale process and talk to your attorney. It’s an important and potentially life changing event, proceed with caution.
If you would like more information about this please let me know and I will forward comparisons between a short sale and foreclosure. I have completed extensive training in distressed property and earned the designation Certified Distressed Propeties Expert. I want to help if you need it.

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