What's the Difference between Short Sale and Foreclosure?
A short sale is a discounted payoff meaning that the existing lender of the property being sold is accepting less than the total amount of mortgage due.
A Foreclosure is a situation in which a homeowner is unable to make principal and/or interest payments on his or her mortgage, so the lender, be it a bank or credit union , can seize and sell the property as stipulated in the terms of the mortgage contract.
In a short sale you can be back on your feet in two years. . in a foreclosure you are in deep dodoo for at least 5 to 7 years
In a short sale you SELL YOUR HOME . . .
In a foreclosure .. . .YOU LOSE IT!
In a short sale our intended purpose is to negotiate with your bank to sell your home, not owe them anymore and relieve you from the burden of a huge bill.
In a foreclosure, you lose your home, the bank sells it and you are liable for the difference that the bank does not get.
That is called a deficiency judgment.
Click on my eBook about Short Sales.. .you will have a clearer vision if you are contemplating a short sale as an option.
Why Should You Call Us If You Are Short Selling Your Home?
We are not investors. . we just want to help you.
If we can, the bank will pays us. . .
. . if we can't help you, we lose and we do not make a dime.
WE ARE IN THE SAME TEAM WITH YOU!
Fernando Herboso is a Certified Distressed Property Expert
and a Gold Member Certified Default Resolution SpecialistTM with (CDRS)
You can reach Fernando Herboso by calling him directly@ 240-426-5754
or email : Fernando@Herboso.com
Herboso & Associates is one of the Top Realtor Groups for the most CLOSED SHORT SALES for 2009 in Montgomery and Frederick County Maryland
IF YOU ARE HAVING TROUBLE WITH MAKING YOUR PAYMENTS OR ARE HAVING ANY FINANCIAL DIFFICULTIES A SHORT SALE MIGHT BE YOUR BEST OPTION.
CONTACT US TODAY TO SEE IF YOU CAN QUALIFY. OUR SERVICES ARE FREE AND EVERYTHING IS KEPT IN THE STRICTEST CONFIDENTIALITY.
"We Bring you The Results When It Counts"
Check this other question also:
Can I just Short Sale my home to my brother?
