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Short Sale vs. Foreclosure

If you are facing Foreclosure or a Short Sale, your options can be confusing. However, one choice is far better for you. A Short Sale will save you money and do less damage to your credit score. RealStar Realty can help you sell your property as a Short Sale with no cost to you.

A Foreclosure is a ‘one sided’ action by your lender and the courts to force you out. It also allows the bank to seek restitution for the outstanding debt and the cost of selling the property. This could result in garnishment of your assets and wages. A Short Sale is an agreement between you and your lender whereby you cooperate on a sale (make the property available) and in turn, the lender accepts a lower price than what is owed. A successful Short Sale avoids Foreclosure and saves both parties thousands of dollars. See chart below for additional information:

short-sale-or-foreclosure

Disclaimer: The information provided here is for general information purposes only. Contact legal consul for advice on your specific situation. No information provided here shall be construed as legal or any other advice. No representation is made to the completeness or accuracy of the information. As such, no part of this should be used as a substitute for consultation with professional legal advisor.