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Short Sale vs Foreclosure

Short Sales ultimately are better on your credit and avoid the stigma on your credit report of a foreclosure. Short Sales do not impact your community as much, you may be elegible to purchase another home in as little as 2 years and the deficit is negotiated with the bank as a debt settled. If you are in the military or government employment, your clearance is not in jeopardy. A foreclosure on your credit may impact your employment or future purchases.

 

 Copyright National Association of REALTORS. Reprinted with permission. 

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