Putting your home on the market as a short sale is not favorable but can be far better alternative than allowing it to fall into foreclosure. A short sale is when the lender agrees to allow the homeowner put their home on the market for less than it is worth and without having to pay the difference. A short sale is only beneficial if the lender does not report the deficiency on your credit report. However, it will still show as a negative account on your credit report since the ‘settled’ amount is less than what was owned.
Read » Short Sale: A Favorable Alternative to Home Foreclosure
Short Sale: A Favorable Alternative to Home Foreclosure
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