Charlotte Ryan of Windsor Colorado posts an article that does an excellent job of delineating the different repercussions of a short sale and a foreclosure.
Those of us in the business of trying to help distressed homeowners are continually amazed at the lack of understanding. Any distressed homeowner that has emotionally decided to let their property go needs to read this article and consider the ramifications. You can live to own a home again.
Ms. Ryan spells out ramifications on security clearances, current employment, future employment, credit score and credit history, and future mortgages and consumer credit.
Nothing good can come from a foreclosure. It is the worst of all scenarios. I urge any distressed homeowner to take whatever control can be gained in a very trying time. Throwing in the towel should not be an option.
The REST Report assures you either a mortgage modification or a short sale. Either solution is better for your mortgage investor and you. ANYTHING BUT FORECLOSURE!
If the distressed homeowner has months to short sell themselves, I imagine they’ll be tempted to do it themselves with the required Real Estate agent. If they don’t have the time or patience, call an expert investor with experience negotiating with reluctant lenders who can purchase your property the instant negotiations are complete. I represent just such an investor.
This YouTube video says it all. Go here: How to Get A Beneficial Mortgage Modification Now
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Differences between Short Sale and Foreclosure – http://www.mortgage-mod-monster.com/?p=118