I get this question a lot. . here's a short answer. . 

If you're a seller trying to decide whether to let a home go through foreclosure vs attempting a short sale, salvaging your credit may be one of the  advantages for doing a short sale.

There is  a 100 % better chance that you will be a homeowner again. . faster with a short sale vs a foreclosure." It could be as early as two years . . Your credit will probably take a hit with a short sale. . but a foreclosure will put an exclamation point to your name for up to 7 years.

Even finding a job can be jeopardized with a foreclosure on your name, try applying  for a goverment job or get a security clearence just to be a security guard at the mall.

A short sale option does make more sense than a foreclosure at the long run.

You should always consult with an attorney and/or an accountant when your finances are at risk. This advise is based on a general question. . . there are many variables before making a decision to do a short sale.

Fernando Herboso & Associates are CDPE certfied:

" CERTIFIED DISTRESSED PROPERTY EXPERT"

MORE INFORMATION ABOUT SHORT SALES

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