Foreclosure Vs Short Sale
By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
Foreclosure Vs Short Sale Foreclosure Vs Short Sale There are many homeowners today without a clear understanding of the differences between a foreclosure and a short sale. The consequences a homeowner faces between the two can have a huge impact on their credit and employment especially if their job requires a security clearance. In an effort to help these homeowners who may not be aware of the advantages and disadvantages of foreclosure vs short sale, I would like to explain the points at issue and consequences of both. In a foreclosure credit your credit score may be lowered from 250 to over 300 points and it typically can affect your score for over 3 years. With a successful short sale on your home only late payments on a mortgage will show and after sale mortgage will be ...
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