Short Sale vs. Foreclosure

Why choose to do a short sale
 

Short Sale

  • Most often a negotiated settlement
  • Credit can be repaired in half the time
  • Can be eligible to buy another home much sooner
  • Low Attorney fees (in some cases, none)
  • Peace of mind after closing
  • Many times can buy another home within 24 months
  • Often includes all liens in sale

 

Foreclosure

  • Courts may dictate settlement
  • Credit can be ruined for up to 7 years
  • Possibility of high Attorney fees
  • Uncertain about deficiency judgments
  • Can take up to 7-10 years to be able to buy again
  • In some states it runs the risk that other liens will try to sue you for the balance

Call or email me today!
Sincerely,

Steve Lauver, SFR
Nebraska Realty

Direct: 402-689-7550 or Email: OmahaRealtyPros@Gmail.com