When a Short Sale is achieved, there will not be a foreclosure. A Foreclosure damages credit up to 7 years and bankruptcy up to 10 years. Many experts believe that a foreclosure is much worse than a bankruptcy.
Banks know that they would never be able to make up the entire amount of the mortgage if the property was taken all the way through foreclosure, so they are also more willing to negotiate a reasonable price when markets are declining. Although selling at a short sale does not directly save the home and allow the owners to continue living there, it can give the owners another option to stop foreclosure and deal with a significant loss or lack of equity.
I can help you prevent the downgrading of your credit score while providing you A FRESH START......
www.ReMaxAnn.com or Call Ann (714) 588-7676 to see if you qualify!!
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