For all you homeowners in Taos and everywhere who are concerned about foreclosure or short sale, here is some information that may help you make good decisions about what options to pursue.
Taos homeowners who need help making a choice between foreclosure and short sale keep in mind that a successful short sale may lower your credit score as little as 50 points and may only have affect on your credit score for 12 to 18 months. A foreclosure may lower your credit score 250 to over 300 points and will typically affect your credit score for 3 years.
Foreclosure can remain as public record on a person's credit history for 10 years or more while a successful short sale is not reported on a credit history, and may be reported as "paid in full" or settled.
If you would like more information on Short Sales please contact me and I will send you our special SHORT SALE REPORT. Call me at 575-758-7890 or email me at email@example.com and I will email the report back to you.