SaraCEO
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quote:
Originally posted by Tassus
When the value of a home decreases substantially, it may be in the best interest of the homeowner to let the home go through foreclosure proceedings. The amount owed on the home may exceed the value, which means there is no equity in the property.
Are you talking about the land of home or full constructed home?
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Fri Aug 13, 2010 1:43 pm |
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moonraker1
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Foreclosure will harm your credit rating so you should search out better option like unsecured loans to get out of your debt.
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Sat Sep 18, 2010 10:10 am |
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laura.alamery
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Location: St Louis, MO
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| Foreclosure better than short sale? Not always ... |
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I have processed a lot of short sales in the last few years. A foreclosure is devastating more emtionally than anything else: there is life after foreclosure and you can buy again in 4 years, unless you are so fed up with the whole homeownership process, like a lot of my clients have been  Honestly a lot of real estate gurus try to scare homeowners into doing short sales (for their own benefit of course,) but foreclosure sometimes might be the better option, depending also on the default judgment rules in your State, and/or if you are going through a divorce or a bankruptcy anyways.
Laura Al-Amery is a real estate investor and consultant, with 23 years exerience in many real estate sectors. For a FREE Report on “The 8 Most Profitable Real Estate Niches,” please visit www.BestRealEstateNiches.com
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Fri Oct 22, 2010 11:40 pm |
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kristiegarza
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Short sale affects credit less than foreclosure or deed instead of foreclosure. They are much more complex, we suggest you seek the help of an experienced agent to help you. Research that has passed through a short sale and ask them what have happened.
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Thu Apr 28, 2011 1:23 pm |
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harrywinston
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Foreclosure rarely correct option I think so. They may be able to work with you, even if it appears there is not a live, but extenuating circumstances it will take perseverance. There will be more then a short sale is a better option for you if it comes, then become a hostage-like.
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Tue May 24, 2011 1:57 pm |
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namratasnv
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It is always better to first consult it with the agent and than moving forward for it. It completely depends on the situation and later gives you returns.
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Thu May 26, 2011 1:54 pm |
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