Ringing Ceders

Owning real property is not really all it’s cracked up to be, especially if you lose the capacity to pay for monthly mortgages due to unemployment or other hardships. You have 3 scenarios that can happen to you if you fail to pay your mortgage.  (1) Foreclosure, (2) short sale and (3) REO.  All three can be very similar but there are nuances that you must know so you can choose what can really be advantageous in your situation. In most situations, short sale can be the most advantageous for people like you to avoid long foreclosure proceedings.  Have a short sale specialist examine your situation so you can determine if it’s the best for you.