UPSIDE DOWN ON YOUR MORTGAGE?
If you would rather avoid Foreclosure, there are other options!
SHORT SALE Vs. FORECLOSURE!
The homeowner will always have to disclose they have had a foreclosure on any loan application, not so with a Short Sale!
Credit scores will be lowered by as much as 300 points affecting the ability to get a car, rent, credit cards, etc, as little as 50 for a Short Sale!
Foreclosure is the one credit report item that is almost impossible to repair. With a Short Sale, it's not as damaging!
Many employers run credit checks on prospective employees and foreclosure is one of the top items that will put a potential new hire in jeopardy, not so with a Short Sale!