Foreclosure -vs- Short Sale
January 10, 2010 by Deborah
Filed under Foreclosure Info, Short Sale VS Foreclosure
This chart will show the difference between a Successful Short Sale and a Forelcosure;
and how each one will affect you:
Issue
Foreclosure
Successful Short Sale
Future Fannie Mae Loan – Primary Residence
(effective May 21, 2008)
A homeowner who loses a home to Foreclosure is ineligible for a Fannie Mae backed mortgage for a period of 5 years.
A homeowner who successfully negotiates and [...]
