Ken Bennett: With foreclosures, there is a process in which the owner is. since the loss might be less than what they'll face in foreclosure.. There's also been talk in the past about deficiency judgments, but Florida legislature has decided. Finally, a short sale is not as bad and does not stay on your credit.
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A short sale, also known as a pre-foreclosure sale, is when you sell your. Eliminate or reduce your mortgage debt; Avoid the negative impact of foreclosure ; May be. If you need further assistance (before or after contacting your mortgage.
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The seller avoids the credit hit that comes with foreclosure and the bankruptcy that. It is important to note that no short sale may occur without lender approval.. Unlike most short sales, foreclosures may take place after the.