If you’re an Albuquerque homeowner in distress, you may eventually have to choose between doing a short sale or a foreclosure. So which way is better to go? Should you just let your house go, or should you try one of those frustrating short sales? Does choosing a to do a short sale damage your credit score less than a foreclosure?
Before I give you the answer to that question, let me just say that I work in an industry where misinformation abounds. Well meaning but misinformed real estate agents frequently give out information that’s just plain inaccurate. Other times, less reputable real estate agents, who themselves may be in trouble with their finances, polish up the facts just to try and get a listing or make a sale.
Finding accurate information online is difficult. I read a lot of blogs, but rarely do I come across a post that I think is authoritative enough to share. When I do, I like to share.
This post by Bill Gassett, A RE/MAX agent in Massachusetts, is a well written and informative post that explains how short sales and foreclosures affect credit scores. I think it is worthy of being shared so please click on the link to read: