Orlando Short Sale vs. Foreclosure

What are the benefits of doing an Orlando FL Short Sale vs Foreclosure?

There are many, but today we’re going to focus on two. First, let’s talk about your credit record. Notice I said record and not credit score. No one can tell you how an Orlando FL Short Sale will effect your credit score. But, on your credit record, it will say “paid but less than owed” or somehthing like that. If you allow the property to go into foreclosure, there will be a legal judgement against you and be on your credit record for ten years versus a Short Sale that will only hurt for two short years. Then you’ll be able to get financing for a new house!

The biggest benefit to doing an Orlando FL Short Sale vs Foreclosure is that here in Florida, we are a “deficiency state”. That means the lender has a legal right to come after you for the deficiency. If you allow the property to go into foreclosure, the judge will give the lender the green light immediately to sue you.
If you do an Orlando Short Sale, it’s a whole other issue. The lender will have to spend a huge amount of time and money to come after you after you’ve done a Short Sale. Odds are they won’t waste their money after you’ve done a short sale.

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Other Short Sale Expert Videos

• Benefits of A Short Sale In Central Florida
• Short Sale And Foreclosure Impact On FICO
• Orlando Short Sale Details – Orlando Short Sale Professional
• Make Sure Your Short Sale Agent Will Get Deficiency Rights Waived
• It Is Important To Know Any Of The Consequences Involved In Completing A Short Sale On Your Property