- A short sale is a voluntary process., where the homeowner sells the property for an amount less than what is owed on the mortgage.
- A foreclosure is involuntary, where the lender takes legal action to seize the home. The lender takes ownership of the home and sells it to recover the amount owed to them.
- The ability to obtain a Mortgage in the future.
- The effect on Credit Score, and credit history.
- Possible effects on Security Clearances in a variety of industries.
- The Effect on Current and Future Employment.
- Deficiency Judgement. What rights does a lender have to pursue a deficiency balance in short sale and in foreclosure?
Certified Distressed Property Expert
A Certified Distressed Property Expert is a real estate agent trained to help homeowners avoid foreclosure. A Certified Distressed Property Expert, or CDPE has specialized training with the complex issues confronting distressed home owners. Foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales. Are you behind on your house payments? Are you facing Foreclosure, Pre-Foreclosure or Notices of Default from your lender? You may be surprised at the options available to you. You might not have to walk away from your home! There is hope… How can a CDPE help you in the sale of your home? Short Sales and REO in has many homes available through the Short Sale and REO process. Without specialized knowledge about how to handle the purchase of a foreclosure, short sale or REO, you could find yourself in dangerous territory. While many short sales are foreclosures, not all foreclosures are short sales and not every short sale is in foreclosure. To further complicate matters, REOs are not short sales either, but some intended short sales can end up as an REO. There’s a lot of confusion in the media on whether a short sale is truly better for a homeowner than a foreclosure. To find the answers, let’s take a closer look at Short Sale vs. Foreclosure. Short Sale vs. Foreclosure