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The Foreclosure Fairy Tale

By
Real Estate Agent with Keller Williams Real Estate RS307443

The Foreclosure Fairy Tale

There is a lot of misinformation out there.

I would not be surprised to find out that you have heard that a foreclosure is sometimes the best option for you. Nothing could be further from the truth. For the vast majority of homeowners out there who are in danger of losing their homes, a short sale represents a vastly superior option.

The reality is that a foreclosure is a devastating option.

A foreclosure can detract as much as 300 points off your credit score while a short sale brings off as little as 50 points.  A foreclosure can show up on your credit report for up to 7 years! ..a short sale, as little as 12-18 months.

With a foreclosure on your record, you will not be able to apply for another loan for at least 7 years. With a short sale, it is possible to get a loan immediately and get out from under the burden a distressing situation can bring.

I have spent a lot of time learning how to help homeowners with dignified solutions. As a real estate professional with the Certified Distressed Property Expert (CDPE) designation, I have put together all of the benefits of a short sale over a foreclosure in a free report that is available to anyone.

Take a look at my site www.montgomeryforeclosurerelief.com and download a copy of my free report entitled “The Foreclosure Fairy Tale”, then contact me for a free, confidential consultation.

Don't fall for the foreclosure fairy tale. A foreclosure is NOT your only option and I can give you the information on your real options. If you are in a distressing real estate situation, please contact me. I would consider it a privilege to guide you through the process and help bring relief through an option that is far superior to foreclosure. You don't have to go it alone.

Dan Hopper
Dan Hopper - Gold Way RE - Westminster, CO
Colorado Broker / Referral Services

Thanks for posting this Joshua ... we have reviewed many credit reports from folks over the last 12 years that have performed a short pay-off and a foreclosure.  YES, there are differences in the final analysis... foreclosure does impact more and longer.  We still see the major issue in both... it is the MISSED payments that really harm the FICO scores.

Nov 29, 2012 01:36 AM