Do You Know the Difference
                    Between
     Foreclosure vs Short Sale?

To My Real Estate Family,

It has come to my attention that too many of us are allowing the system to take away our options.  Options that will put us in a better position in the future to purchase and/or rent properties whenever we choose.  Many of us are not aware that if we Foreclose on our homes, we can not purchase a home until after seven (7) years and renting a home is frown upon as well.  Rental Owners are considering if you are willing to give up on your investment without taking advantage of your options in times of crisis, than why would you care about being delinquent with their investment.  We all have a crisis in our lives one way or another, it’s how we deal with those crisis that shape our lives.

Seven years is a long time.  I am extending this flyer to you and/or to someone you know, so that you can help them or yourselves not get into this position.  If you or someone you know is facing foreclosure and all other options have been exhausted, the absolute best way to prevent a more devastating event is to sale as a Short Sale.  With a Short Sale, you are forgiven for all mortgage debt(s) once approved.
E.g. Current Mortgage            - $400,000 plus  Second Trust /Home Equity Loan for $50,000
        Current Market Value    -  $200,000
The house will go on the market for $200,000. Once approved, the bank will forgive both 1st & 2nd. Owners are able to walk away Mortgage Debt Free.  The credit report will read, Satisfied but at a lower balance.
A Foreclosure will read just that, Foreclosed!

                              20 years of experience and continuing on assisting my Real Estate