''SHORT SALE":  The process of negotiating with the lender to accept less than
what is owed to them.

Foreclosure vs. Short Sale

Foreclosure:

• Deficiency Judgement: The difference between your loan balance plus attorney fees, court costs, appraisals, interest paid, insurance added, penalties and costs to serve paperwork versus what the lender sells the property for. They sell if for pennies on the dollar!
• Foreclosure on your credit report.

Short Sale:

• No foreclosure on your credit report.
• In most cases NO Deficiency Judgement.
• No more harrassing Phone calls.
• The ability to move on with your life without a cloud hanging over your head.
• The ability to qualify for a home purchase in about 2-3 years.