Short sale usually a better option than foreclosure

Posted by Metropolitan Group on Monday, March 29th, 2010 at 12:21pm.

For all you Colorado homeowner's struggling to make your monthly payment, foreclosure is not your only option. Depending on your lein holder, and who the lein holder is, a short sale may be a much better option than a foreclosure. A foreclosure can lower your credit score anywhere from 250 to over 300 points, and typically lasts for 3 or more years. With a short sale, the credit score is affected by as little as 50 points and can be as breif as 12-18 months. Even worse than a bad credit score, a foreclosure on your record will lead to revokation of security clearnce for military personel police officers, CIA operatives, etc. in almost every case. There is a lot of information out there, and not all of it is accurate. So do yourself a favor, and call your Denver real estate experts with The Metropolitan Group at RE/MAX Unlimited to find out if a short sale is the best option for you. Read more by clicking the link below...

http://money.cnn.com/2010/03/29/real_estate/short_sale_explosion/index.htm

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