Temecula, Murrieta, Menifee, Wildomar, Ca. Short Sale VS. Foreclosure
Millions of Americans will be faced with the question: “Should I let my home go into foreclosure, or do I short sale with the bank?” The inevitable is coming, but which is the best way to go?
Should I let my property go into foreclosure or do I short sale? “ The bigger question should be which will have a bigger long term effect on my credit and lifestyle”... quotes Scott Partridge of Re/Max Elite Team in Temecula. This one action can save you thousands of dollars in future payments on your auto,credit cards and future mortgage payments.
Short Sale...Short sales have a far less damaging affect on a seller’s credit report. Credit scores typically lose between 80 to 100 points and typically you can purchase another home as early as 18 months with a good interest rate. (Each short sale will vary)
Foreclosure: Without a doubt the seller’s will incur more damage on their credit report by going through a foreclosure. Typically your credit score will take a plunge between 200 to 300 points, also it will take up to five years before you can qualify for another loan. This also stays on public record forever and many employers will check your credit when hiring you for a job placement. If you are in a line of business that requires a high security rating, or in sales being a chasier or handling money you become a risk. Foreclosure basically states that you walked away from the loan and may end in a deficiency judgement.
Scott Partridge of Re/Max Elite Team has worked with many families suffering hardship situations and believes he can help you save your credit. “Salvaging your credit should be your main concern” Scott states. “I have been certified as a short sale specialist and I know the ends and outs of the real estate business and can show you how to avoid the pit falls.”
If you or a friend is facing foreclosure Scott would like to talk to you. You can reach Scott at 951-757-2148 or email at firstname.lastname@example.org There is a better wat then walking away from your home.
- Contact Information
- Scott Partridge
- Certified Distressed Property Expert
- Re/Max Elite Team
- Contact via E-mail
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