Short Sale vs Forclosure

Although this is a touchy subject hundreds of thousands of people are facing either forclosure or short sale on their property. You may be one of them. You should start a club... because you are not alone.

Wheather you bought your home two years ago or ten it doesn't matter. What matters is the type of loan you have and the amount of the loan. So many people refinanced during the boom to fix up their home, buy a car, go on vacation or just live on the money. Now with the correction of property values those same people along with buyers that bought homes with a variable rate mortgage are finding themselves in a tough spot.

As a short sale expert I can guide you through the process of salvaging your credit so that you may buy again in a couple of years. If you walk away and foreclose your credit will be damaged for a long long time. A short sale or even better modification of your loan (if you happen to be with a lender that has some heart - which I hate to say is far and few in between) you may be able to have your loan readjusted to help you through this tough time. If not, a short sale is your best avenue.

What are your thoughts or questions on the subject?

Go ahead and post a comment or question and I will do my very best to find the right solution for your particular situation.

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Thanks so much, Stacy