Having recently completed training, testing & receiving the CDPE designation, I have realized how very important it is to help people work their way through the Short Sale process rather than let them go into Foreclosure.
There are definite consequences that happen with Foreclosure, that you can avoid by going the short sale route. For quite awhile, realtors have avoided short sales because it is a different, more involved & unknown process that makes the realtor work twice as hard. Be sure you find a realtor that has the CDPE training and designation because it involves an extensive amount of time, detail and follow up to work through the process. In this instance, the public should applaud the realtor for his/her compassion, as more realtors are seeing the need for this and preparing themselves for this type of sale.
If you know of anyone in a distressed situation financially, tell them to contact a realtor with training in short sales and try to go that route rather than just give in to foreclosure.
A Foreclosure becomes a public record for 10 yrs. or more; could be detrimental to your future employment, or present job. Security clearance can also be terminated. Learn all you can about short sales before going into foreclosure.