There is an alternative to Foreclosure... it's called the shortsale!!

Foreclosure:

• A foreclosure will ruin your credit and will be on your report for up to 20 years!
• Your are responsible for the difference on the amount of debt.
• A deficiency judgement on your credit.
• The sheriff puts you outside the home.
• Court settlement.
• Big attorney fees.
• Can't buy in again for 10 years.
• You pay the difference at the closing table (sometimes tens of thousands of dollars)

Advantages of a Short Sale:

• A shortsale can removed from your report after only 6 months!!
• A shortsale shows as a PAID IN FULL!!!
• Your credit is saved.
• Negotiated settlement.
• Bank pays your attorney fees.
• Bank pays violations on the home.
• Bank pays debts associated with passing a clean title.
• Can buy again in 2 years (maybe less).
• Your debt is eliminated.
• Bank pays your Realtors fee.
• UPDATE President Bush signs Mortgage Forgiveness Act (e-mail me to get your own copy).

Watch this Video

Not every loan will be negotiated as a shortsale by the bank. There are certain guidelines (every bank is different) Contact me and I'll help you if you qualify to do a short sale. ProRealtor@verizon.net

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