Foreclosure, Short Sale, Credit and Employment

By
Real Estate Agent with Keller Williams Realty Louisville East (502) 664-7827

Unfortunately some employers consider bad credit as a predictor of effectiveness and trustworthiness.

How Can A Short Sale Benefit You Vs. a Foreclosure?

Interviewers are asking candidates for authorization to contact the three major credit reporting bureaus. Candidates are worried bad credit will cost them their job.

Even though a short sale hurts the seller's credit, there still are differences;

In a foreclosure, the owner LOSES their house.

The benefit of a short sale: In a short sale, the owner SELLS their house by developing a solution with the lender that is more beneficial to the lender than a foreclosure.

A Short Sale is a Reflection of the Seller's Strength and Tenacity

A foreclosure could be interpreted as lack of trying in the face of adversity.

A short sale is a tribute to the seller’s initiative and perseverance in finding a win-win solution for all parties.

 

Posted by

 

 

Dave Halpern, Realtor

The Dave Halpern Real Estate Group

Keller Williams Realty Louisville East

Website David.DavidHalpernRealtor.com

(502) 664-7827

 

 

View Dave Halpern's profile on LinkedIndave_halpern twitterhalperndave_facebookDave Halpern QR CodeLouisville Foreclosure Realtors Dave Halpern

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Topic:
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Location:
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Groups:
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Tags:
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Rainer
51,576
Patrick Schorle
Pacifica Real Estate Inc. - Sidney, BC
Patrick Schorle

Dave, you raise some very good points that the public & your clients will definitely appreciate. very often people bunch up foreclosure and short sales in the same lot.

Feb 20, 2011 07:33 AM #1
Rainer
390,804
Nor Yeretsian
Envoy Capitol Realty Inc. - Toronto, ON
Envoy Capitol Realty Inc., Brokerage Toronto

Good post Dave, things that need to be considered before jumping...

cheers

Nor Yeretsian

Feb 20, 2011 07:37 AM #2
Ambassador
3,093,518
Anna Banana Kruchten CRS CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Dave I agree with you and I'd also like to add this for the sellers who were unsuccesful in getting a short through the bank(s) - they also show strength and tenacity and through no fault of their own still ended up loosing their home. 

Feb 20, 2011 10:08 AM #3
Ambassador
1,471,625
Toni Weidman
Sailwinds Realty - Trinity, FL
20+ Years Selling Homes in New Port Richey, FL

Dave-I agree with you. And, Anna adds a valid point. There are some short-sales that the lenders absolutely do not co-operate on even if we have a viable offer.

Feb 20, 2011 11:31 PM #4
Rainmaker
526,160
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Anna, Toni,

You are absolutely right. Lenders too often turn down valid short sale offers and significantly delay the borrower's personal and financial recovery process.

Feb 20, 2011 11:52 PM #5
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Rainmaker
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Dave Halpern

Louisville Short Sale Expert
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