SHORT SALE VS LOAN MODIFICATION
There are advantages and disadvantages in doing either a Short Sale or a Loan Modification in order to rid yourself of your mortgage (debt) OR to keep you home.
We’ll break it down for you…
SHORT SALE ADVANTAGES
SHORT SALE DISADVANTAGES
LOAN MODIFICATION ADVANTAGES
LOAN MODIFICATION DISADVANTAGES
For example, if you short sale your property in 2010 you will be eligible in 2012 to apply for a mortgage. And if you purchased a property sometime between 2003-2006; property values will probably still be at or lower in 2012 than they were during the 2003-2006 years making this a very sensible decision to make from a financial planning perspective.
WHAT’S YOUR DECISION?
Contact the Cook & Associates Real Estate Advisors today to help you decide!