The Differences between Foreclosure and a Short Sale

You have options if you're facing foreclosure

You have options if you're facing foreclosure. A short saleis most certainly among them. You can talk to a specialist about this and see what you may be able to work out with the lender. The lender will consider this a form of loss mitigation, which allows them to keep doing business without losing money to another foreclosure. It's certainly not charity: you're still paying your loan. You're simply hitting the lender with a dose of realism and letting them know that you and the lender are both in a bad situation, but can get out of it together.

The Differences between Foreclosure and a Short Sale

By: Sean Crosier

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