Different short sale options are appropriate for different situations. Realtors and agents will schedule a one-on-one consultation with you to be able to effectively assess your case. You may ask different questions about the process and they will be answered by your specialist. After deciding which short sale option is the best for you, you enter an agreement with your agent. You are expected to vacate your home when the right time comes and he is expected to find the right owners for your house. Short sale realtors and agents in Orange County
can facilitate the process.
A short sale usually does not reflect poorly on a credit report. And it cannot begin to compare to the damage your credit will incur if you are ultimately forced into foreclosure. With a foreclosure, you can expect to be unable to obtain a mortgage for at least 7 years. With a short sale, you can expect to resume normal borrowing (for mortgages, car loans and credit cards) within a very short period of time. Remember, with a Short Sale, you walk away with your mortgage debt zeroed out. With a foreclosure, the collection stays on your credit indefinitely!
A lender is often less likely to want to repossess (foreclose on) an Orange County home that needs work-it would make it harder for them to sell it later. Lenders are not in the "home repair" business. They do not want the responsibility. A home in rough shape may serve as an incentive for a lender to do a Short Sale. Ask an Orange County short sale expert
for additional advice and guidance.