Short Sale v.s Foreclosure

The decission between doing a Short Sale v.s a Foreclosure should not be difficult. If you have to Choose, do a Short Sale.  A foreclosure on your credit report has the same effect as a bankrupsy.  There are new short sale programs such as the Co-operative short sale that Bank of America has; The home owner no longer has to provide tax -returns, hardship letters, pay-stubs or bank statements pluss Bank of America will pay the home owner $2500.00 to Co-op into the program. This program is also good for non owner properties. You can also do a stratigic foreclosure more on stratigic foreclosure in my next blog.