Foreclosure Vs. Short Sale

By
Real Estate Agent with RE/MAX Vision

Many people are unaware that there is a step before foreclosure they can take to avoid the harsh consequences associated with an actual foreclosure. This step is a short sale and in the long run can potentially save the homeowner from negative marks on their credit and make them eligible sooner for another home loan.

For instance, a homeowner who loses a home to foreclosure is ineligible for a Fannie Mae backed mortgage for a period of up to 5 years. However, a homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed mortgage after only 3 years.

This is just one example of the benefits of initiating a short sale and seeking out the assistance of a Certified Distressed Property Expert like myself.

If you live in the Chicagoland area and would like my assistance, please let me know. I would be more than happy to assist you through the short sale process.

Comments (9)

Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hi Rita,

Welcome to Active Rain and congratulations on your first post! The opportunities to learn and network are incredible here. Best of luck to you!

-Keith

May 12, 2009 04:29 PM
Yvette Gardner
Keller Williams Realty, Spartanburg, SC - Spartanburg, SC

Welcome to the Active Rain community. This is a great site with lots of information.  Have fun with it and hope to see more of your blogs soon!  We have a team of three outstanding full time agents to assist your buyers and sellers in Spartanburg/Greenville, SC.  Let us know if we can ever help. Again, welcome to AR!!

The Gardner Team, Keller Williams Realty

ygardner@HomesIntheUpstate.net

www.HomesInTheUpstate.net

May 13, 2009 12:25 AM
The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain.  It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm, Trumm Team, Omaha NE

May 13, 2009 01:19 AM
Ted Mackel
Keller Williams Realty Simi Valley - Simi Valley, CA
Simi Valley Real Estate Agent

Welcome to ActiveRain. Congratulations on your first post. Get around and check out the community, you'll quickly figure out how to supercharge your blogging skills. 

 Read this blog post: http://www.activerain.com/blogsview/535552/Three-Mistakes-Newbies-to

May 13, 2009 03:46 AM
Jean Terry
Keller Williams Realty Spartanburg, S.C. - Spartanburg, SC

Hi and wewlcome to Active Rain, a great site to network, share, learn, and have fun. Good luck. And if you ever need an agent in the upstate of South Carolina, please call me.

May 13, 2009 05:44 AM
Morris Childs
PEP source - Spartanburg, SC

Welcome to Active Rain. It just gets easier after your first blog. Just write about what interests you.

May 13, 2009 01:09 PM
David Painter
Keller Williams Realty - Spartanburg, SC

Good to have you on Active Rain.  This is a good site for gathering information and interesting to see what others are blogging about. Contact us if we can be of service to you here in the Spartanburg / Greenville areas of South Carolina. We would be happy to send you a referral or to take good care of any referral you would send to us.

The following link will help you to get started on Active Rain. 

http://activerain.com/blogsview/209646/Blogger-Startup-Kit

May 13, 2009 02:18 PM
Jason Rose
123 ConEd LLC -- Michigan real estate continuing education - Farmington Hills, MI
www.123ConEd.com

Hi Rita, and welcome to Active Rain. Congratulations on your first post. Have fun and enjoy yourself here!

May 14, 2009 07:02 AM
Sergio Rebollo Jr.
Real Estate TeamMates - Miami, FL

Rita....Welcome to ActiveRain.  This is a great community to network with others as well a great place to learn from other's experiences and knowledge.  I've enjoyed it; I hope you enjoy it as well.

Sergio Rebollo Jr.
Exit Prime Realty
Coral Gables, FL  33146
305-582-4062

Miami Short Sale Specialist - Profile

May 15, 2009 11:14 AM