Brought to you by SANDIEGOHOUSESHOP.COM (619) 354-4636 or Click here http://www.sandiegohouseshop.com/contact to Reach a CHULA VISTA AND SAN DIEGO SHORT SALE SPECIALIST Hugo Sanchez Realtor
Short Sale VS Foreclosure
- . The ability to obtain a mortgage in the future
- . the effect in credit score and credit history
- . security clearances in a variety of industries
- . current and future employment
- . the deficiency judgment
1.- In a foreclosure homeowners may have to wait
up to 7 years to qualify for home loan
in a short sale the homeowner will be able to qualify as
longest they are able to meet some criteria.
2. Short so many times will have less of an effect in your
credit score versus the foreclosure which may bring your FICO score to less, is
then shown that with a short sale your
credit score can be affected with as little as 50 points and in some
cases in the little or no change in your credit score. Credit wise if the reported as paid as agreed
or paid as negotiated you will usually remain in your credit from 2 to 3 years.
If foreclosure is reported in your credit score it will last
seven years and the foreclosure will remain forever as part of public
records.
3. When it comes to
security be clearances foreclosures will almost have a negative effect. Short sales on their own will rarely have an
effect on your clearance. What people don’t understand is that security
clearance is needed in many industries around the country not only the military
but public servants and government agencies will need it even certain areas of
telecommunications and software development will also need.
4. As employers more and more check the employee backgrounds
a foreclosure may have a very negative effect in your job. Especially when
trying to apply for higher position or brand-new job. Since short sales are not
reported on a credit report they go unnoticed by the employer.
5. There is nothing so aggravating that knowing that your
home was lost in a foreclosure in the lender is looking to sue you for the
amount of what is owed on the foreclose,
when you foreclose on the property that right is forfeited in most of
the states. As if you short sale that is been taken care from the beginning and
no deficiency judgment will apply because lender will settle with what’s owed.
Do you want to know the Short Sale Facts for Short ?
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