Archive for the ‘Chris Carr’ Category

What May Be The Main Distinctions Between Completing A Short Sale And Entering Foreclosure

Thursday, March 29th, 2012

Hello everybody Chris Carr here with Short Sale Revive, your short sale specialist within the Denver area, thanks for trying out my blog today. I work with Keller Williams Realty in the Denver area and use my blog to pass along important information to householders looking to avoid foreclosure. My staff and I specialize in short sales and need to help educate you on your choices for avoiding foreclosure.

For my blog at this time I wanted to discuss just how a short sale works and what you want to know as a homeowner. While having a trusted, experienced short sale agent is important it is also important to know the basics as a homeowner. The best option to explain a short sale is by explaining how it’s different from foreclosure. The most important thing is {that a} short sale will have much less impact on your credit score. If your property goes to foreclosure your credit rating may drop anywhere between 200 and 300 points in comparison with 50 or 75 in a short sale. This will have a lasting impact on your means to get another loan or possibly a job. I’ve seen previous clients qualify for a mortgage only sixteen months after completing a short sale. In a foreclosure you’ll typically be looking at anywhere between five to eight years before you’ll be able to qualify for a loan.

In a short sale your agent is negotiating on your behalf to settle your debt for lower than you owe and have the remaining forgiven. In a foreclosure you might be merely walking away from your mortgage and may face legal action in the future.

I know this is a quick explanation so when you have any questions please stop by my web site or give me a call. This is Chris Carr with Short Sale Revive, your Denver short sale specialist, thank you and have a fantastic day.

For more information on short sales and how to avoid foreclosure, or you can also and get started today.

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