Short Sale beats Foreclosure

Short Sale beats Foreclosure on Credit Report

A "foreclosure" is a court settlement process involving legal action and possible attorney fees. A "short sale" is a negotiated settlement with the lender, no attorneys required. Both show up on the borrower's credit profile, but the difference between a foreclosure and a short sale is the difference in the broken credit and badly dented credit. The short-sale consumer has better options much sooner in terms of buying another home, qualifying for loans or credit cards, securing reasonable interest rates, finding rental housing, even applying for insurance.

For a better understanding or to receive a pdf pamplet, call me at 215.840.5894 or email me at ronremax@comcast.net.