Temecula, De Luz , Murrieta, La Cresta, Bear Creek .. Short Sale VS Foreclosure

Short Sale -vs- Foreclosure...What’s Better for me?

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. This one action can save you thousands of dollars in future payments on your car, credit cards, and future homes..!

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 buy another home as early as 18 months with a good interest rate.

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 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 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 says. “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.”

Scott says “If you know of someone who is facing a foreclosure, please have them contact me”. homes@scottpartridge.com 951-757-2148. There is a better way then walking away from your home.

Contact Information

Scott Partridge

Certified Short Sale Specialist

Re/Max Elite

Contact via E-mail