Short Sale Or Foreclosure? Which Is Better? - 03/28/11 10:15 PM
The preceding article, Unable To Keep Your Bradley Beach Home? Here Is What's Next, explained the procedures for short sales and foreclosures. In this installment the two will be compared in terms of ramifications and consequences. Of greatest concern to the owner of Jersey Shore real estate who is losing his/her home are the effects on credit ratings and future loan availability. Those facing such a loss, however, should also take into consideration security clearance, employment, taxes, and deficiency judgments. The last two will be discussed in the next issue.
CREDIT RATING/HISTORY:
Short sale:
Only late payments on the mortgage of Jersey … (1 comments)

Unable To Keep Your Bradley Beach Home? Here Is What’s Next - 03/14/11 02:23 PM
If after exploring all other alternatives such as federal assistance programs, loan counseling and/or modifications, or a short sale, you are still faced with foreclosure, you need to be familiar with that process and what it means for you. The procedure varies from state to state, and your first step is to be aware of the regulations regarding your Bradley Beach home.
There are three types of foreclosures used by individual states, judicial, power of sale, and strict foreclosure.
1. Judicial is allowed in all states. After the lender files with the judicial system, you will receive a notice for payment. After … (0 comments)

Is Your Bradley Beach NJ Home No Longer Affordable? - 03/08/11 12:33 PM
Because more than 5 million households are behind on their mortgages, two commonly heard, and sometimes confusing, terms are short sale and foreclosure. This article will define and explain a short sale. Part 2 will examine the foreclosure process, and Part 3 will attempt to compare and contrast the two to help you decide which better fits your circumstances.
Short Sale
A short sale is, in essence, the sale of a home for less than what is owed on the mortgage. This sale is done by you the homeowner, and your realtor, not the lender, and you may continue to reside … (0 comments)