As we are seeing more Jacksonville Short sales I find it important to point out what the benefits are when short selling your house instead of letting it foreclose.
Of course every situation is different and it depends on the reason of your foreclosure or short sale, but as a general rule, a short sale is better than a foreclosure. For starters, latter will stay on your credit report forever, while a short sale will fall off within 5-7 years.
Furthermore, with a Jacksonville short sale you are still in control of what is happening. In a foreclosure situation the bank will repossess your home and evict you.
Another important fact to remember if you find yourself between a rock and a hard place is that, when short selling, your credit score will go down 150 points at the most; when you get foreclosed on it may go down 200 to 300 points! And it will take much longer to be able to buy again. When short selling the bank may forgive your debt and you may be able to buy again very soon, definitely after 
about 2 years.
Of course there are other pros as well as implications to either, but in general, you are in control, you may sleep better at night, and your home sale will be handled just like any other sale, with a Realtor representing you.
You have other options! Don't let your home foreclose, call me today about a short sale in Jacksonville or Onslow County! Also visit my premier Jacksonville real estate website to search for foreclosed homes.
For more information also read this article: Short Sale vs. Foreclosure
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