The Lotus Realty Group

Short Sale vs. Foreclosure

 There are several reasons why a Short Sale is HANDS DOWN the best option when facing foreclosure if you are not able to come current on your mortgage and the other options do not make sense for your situation. For instance.....

 2. DID YOU KNOW that a home owner who has a foreclosure recorded on their credit report will lower their credit score from 250 to 300 points, affecting their credit for 3 years?

 If you successfully negotiate a short sale it will lower your score by only 50 points and affect your credit for 12 to 18 months.

 3. DID YOU KNOW that employers are able to randomly run credit checks, same with job applicants...a foreclosure recorded on your credit report for some companies are grounds for reassignment or termination?

 A Short Sale is not recorded on your credit report ( The debt shows as paid in full) therefore not affecting employment. We are in a market where people are not just losing their homes, they are losing jobs as well. Because of a job loss,  it one of the main reasons why homeowners default on their loans in the first place.  So you see how important this factor is when facing foreclosure!

 These are just a few facts to consider but that is not all, there is more...Call today and set an appointment with Cari Drolet for a free consultation.