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Short sale and foreclosure

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Shapna Riyan

This document discusses the differences between short sales and foreclosures when dealing with troubled real estate properties. It notes that while both options negatively impact credit, short sales may do so less severely than foreclosures. Foreclosures typically involve fewer fees that are lower in amount compared to short sales. Short sales allow more time to find funds, which financially struggling homeowners often need. However, short sales require finding a real estate agent willing to help sell the property under the lender's guidelines.

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Short Sale and Foreclosure - The Real Estate Myth
Short Sale and Foreclosure Foreclosure and short sale are the two different things that may cause confusion to many people when their real estate properties are getting through troubles.
Suggestions There are people who are saying that the short sales are better, while some other people are saying that foreclosures are better Here are some valuable ideas to know more about foreclosure and short sale.
1. Credit Rating
Credit Rating The issue of the credit rating of a person will be negative regardless of the option that he prefers. However, if you are going for a short sale, the reduction in your credit rating will be less when compared to a mortgage.
2. Fees
Fees When it comes to the fees, foreclosures are the better choice because they have fewer fees, and the amount that you have to pay will be lower. The main reason that most people are not getting into this is because most lenders are asking large fees after approving the sale.
3. Time
Time The reason why people who are choosing short sale before foreclosure is because this will help them to get more time to look for the sum of money that they require. People who are having financial issues often need to have more time, and moving to short sale is the best options for them.
4. Estate Agent
Estate Agent The major problem in a short sale is that you need a real estate agent who can assist you in finding the buyer. In many cases, real estate agent will understand you and will make an exception for the guideline that they have assigned for themselves
For Details: http://www.457visamortgages.com

More Related Content

Short sale and foreclosure

  • 1. Short Sale and Foreclosure - The Real Estate Myth
  • 2. Short Sale and Foreclosure Foreclosure and short sale are the two different things that may cause confusion to many people when their real estate properties are getting through troubles.
  • 3. Suggestions There are people who are saying that the short sales are better, while some other people are saying that foreclosures are better Here are some valuable ideas to know more about foreclosure and short sale.
  • 5. Credit Rating The issue of the credit rating of a person will be negative regardless of the option that he prefers. However, if you are going for a short sale, the reduction in your credit rating will be less when compared to a mortgage.
  • 7. Fees When it comes to the fees, foreclosures are the better choice because they have fewer fees, and the amount that you have to pay will be lower. The main reason that most people are not getting into this is because most lenders are asking large fees after approving the sale.
  • 9. Time The reason why people who are choosing short sale before foreclosure is because this will help them to get more time to look for the sum of money that they require. People who are having financial issues often need to have more time, and moving to short sale is the best options for them.
  • 11. Estate Agent The major problem in a short sale is that you need a real estate agent who can assist you in finding the buyer. In many cases, real estate agent will understand you and will make an exception for the guideline that they have assigned for themselves
  • 12. For Details: http://www.457visamortgages.com