---

short sell vs. forecloseure

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
cisca Guest	Posted: Mon Sep 15, 2008 11:18 am    Post subject: short sell vs. forecloseure Like 0 Dislike 0 I have a home in washington state.. like so many I am in the process of losing my home..is it better to do a short sell or should I let it go into forecloseure..I do have a second on the home and I have lived in it for the last two years. thanks...
sara Moderator Joined: 05 Jul 2006 Posts: 2645 Location: New Brunswick, New Jersey 488.43 Dollars($)	Posted: Tue Sep 16, 2008 4:58 am    Post subject: RE: short sale vs foreclosure - tax issues Like 0 Dislike 0 Hi cisca, Welcome to the forums. I guess it's better to try for a short sale first. That's because foreclosure would reduce your credit score by 250-300 points unlike a short sale after which your score would drop by 80 points or so. How's the housing market in your area doing? I mean are homes selling easily? If yes, then possibly yours would sell quickly and you can thus a foreclosure. Just check out the tax consequences of going for short sale from the information on Mortgage Debt Relief Act. Take Care
chrisburns Community Expert Joined: 13 Nov 2007 Posts: 382 Location: Florida 65.98 Dollars($)	Posted: Tue Sep 16, 2008 5:39 pm    Post subject: Like 0 Dislike 0 A short sale light years better than a foreclosure. _________________ Chris Burns Five Stars Mortgage, LLC Office: 800-871-2636 ext. 200 Cell: 407-456-3697 Florida Mortgage Five Stars Mortgage On Facebook

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0