Foreclosure vs. Short Sale; Homeowner Consequences
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Foreclosure vs. Short Sale; Homeowner Consequences

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This presentation outlines the differences between foreclosures and short sales and the consequences for homeowners.

This presentation outlines the differences between foreclosures and short sales and the consequences for homeowners.

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    Foreclosure vs. Short Sale; Homeowner Consequences Foreclosure vs. Short Sale; Homeowner Consequences Presentation Transcript

    • Confusion is Rampant
    • Clearly Outline the Differences
    • 1. Exiting the Home Public Notices vs. For Sale sign
    • 2. Length of Time +/-11 months vs. +/-6 months
    • 3. Deficiency Judgement Yes vs. No (maybe)
    • 4. Future Mortgage Wait 7 years vs. Wait 2 years
    • 5. Credit Score & History Negative Impact vs. Some Impact (maybe)
    • 6. Security Clearances Negative Impact vs. Almost Never
    • 7. Employment Possibly vs. Almost Never
    • 8. Paperwork E DUE OV R Ignore mail vs. Stacks and stacks
    • 9. Tax Relief Little impact (usually) vs. Forgiveness (for now)
    • 10. Neighborhood Impact
    • YOU ARE NOT AN ATTORNEY OR ACCOUNTANT