What do you think, is it easier to work with a short sale or a foreclosure?
It really depends on your situation. There are pros and cons to both. With a short sale, you risk losing a home that you've built and lived in for years... made memories in. Not to mention you could possibly be held liable for any deficiency balance between the original loan amount and any depreciated value that it is sold for. Homeowners sometimes receive a 1099 form after short sale which details this.
In foreclosure, you have a few options. First of all, if you carefully inspect your documents you may come to find that there is fraud done on them by the lender or bank. You can contest this fraud and possibly have your home free and clear.
Best of Luck!
by rossiterdeborah8 years ago
Did you know that most people that lose their homes to foreclosure is a result of mismanagement? The second is Marital problems that result in seperation and divorce.
by GL Bell7 years ago
Just saw this on morning news...If this is true than we have seen nothing yet...
by Kelly Kline Burnett6 years ago
I think the next 3 months will be the best time ever to purchase a home. Your thoughts?One agent felt that there would be another dip.I asked this question the other night and an established owner of a plumbing...
by tritrain6 years ago
I have a serious question about the state of Americans and all the job losses, defaulted loans, housing market collapse, etc.Should the government have a one-time reprieve for people that have been damaged by all...
by Bob20088 years ago
I am in a situation where I will need to go for forclosure or short sale.What bank can do to you if you foreclose? Can the go after your savings and 401K?How expansive the short sale can be? do you need to keep making...
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