If you are in a position where you can no longer make payments on your home there are things you can do besides going into foreclosure and ruining your credit score. There is a way to sell your home for less then you owe the mortgage holder as long as the mortgage holder agrees. This process is called a short sale. Many homeowners are choosing this option to get out from under a house payment they can no longer afford due to a high interest loan that is no longer affordable or a decrease in pay due to the bad economy. It is much better for your credit score then the damage that a foreclosure does. The mortgage holder can then get someone else in the property so it does not have to go through the whole foreclosure process.
84 Responses to “The new way to close : Short sale”Leave a Reply |

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