123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Benefits Of A Short Sale Versus A Foreclosure

Profile Picture
By Author: Ethan Walker
Total Articles: 13
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

As unfortunate as it is to miss the first mortgage payment and to realize that the ability to meet and fulfill the commitment to make future mortgage payments is not realistic, there are still benefits to being responsible as you exit a terrible situation. For a seller, navigating the short sale promises many benefits over just locking the doors and turning the home over to the bank. Here are a few
A seller whose home is in foreclosure is ineligible for a Fannie Mae backed mortgage for 5 years but if the seller closes a short sale on the same home they will be eligible for a Fannie Mae backed mortgage after 2 years.
An investor whose home is foreclosed is ineligible for a Fannie Mae backed mortgage for 7 years, but if the seller closes a short sale on the same home they will be eligible for a Fannie Mae backed mortgage after 2 years.
Credit scores for the foreclosed homeowner will drop 250 to 300 points and typically affect credit scores for 3 years, while short sale homeowner could see a drop in credit score of as little as 50 points and typically affect the credit score for 18 months or less.
A foreclosure ...
... remains as public record on a credit history for 10 years or more while a short sale is generally not reported on credit history.
Do you or someone you know face a foreclosure? The short sale process could seem like an embarrassing difficult process. You have options to sell your Arizona home and navigate out of a bad situation. Contact Jamie Thompson and The Thompson Group today to discuss your options.

Total Views: 88Word Count: 279See All articles From Author

Add Comment

Business Articles

1. Connect Your Clients In A Better Way With Digital Business Cards
Author: Angus Carruthers

2. Design Interiors Elevates Kitchen Living In Brighton With Bespoke, Functional Designs
Author: Kitchen Brighton

3. Make Your Small Business Run Smoothly With Telephone Answering Services
Author: Eliza Garran

4. Finding The Best Business Broadband Providers With These Tips
Author: Julian Serle

5. 3 Major Benefits Of Partnering With A Hosted Voip Service Provider
Author: Julian Serle

6. Understanding E-commerce Content Compliance: A Seller’s Guide
Author: Actowiz Metrics

7. Lucintel Forecasts The Cloud Orchestration Market In Germany To Reach $59 Billion By 2031
Author: Lucintel LLC

8. Lucintel Forecasts The Circuit Breaker Tester Market In United States To Reach $2 Billion By 2031
Author: Lucintel LLC

9. Leed, Estidama & Beyond: What A Green Building Consultant In Dubai Can Do For You
Author: GREEN BUILDING

10. Lucintel Forecasts The Circuit Breaker Tester Market In Japan To Reach $2 Billion By 2031
Author: Lucintel LLC

11. Mwhat To Look For In An Expense Management Software
Author: TrackHr App

12. Industrial Cleaning Contractors Limited Delivers Expert Industrial Painting And Dilapidations Services Across The Uk
Author: Expert Support

13. Lucintel Forecasts The Circuit Breaker Tester Market In Germany To Reach $2 Billion By 2031
Author: Lucintel LLC

14. How Proposal Writing Company Can Be Contributing In The Growth Of Your Business
Author: Mark Twain

15. Professional Proposal Writing Services And Succeed In Business, Here Is How!
Author: Mark Twain

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: