Foreclosure VS Short Sale

The content in this video should not be used for legal or financial advice and I highly suggest you consult an attorney and/or accountant if you are in foreclosure. My real estate expert advice is based on my experience with short sales and foreclosures and the purpose of this video is to explain the difference on a very simple level.

In today's video I discuss the difference between a foreclosure vs a short sale in very simple terms. Foreclosure properties have an allure to buyer who perceive they are getting a great deal and it is not always the case. Depending on the market, a foreclosure or short sale is not necessarily the best way to get a great deal.

In a short sale, the note holder follows guidelines and a formula in order to accept a short sale. The note holder in essence is accepting an amount less than what they are owed. In a foreclosure, the note holder initiates the legal action to strip the title away from the homeowner or property owner.

If you are in foreclosure, I am happy to assist you with putting you in touch with the right people to discuss your options. If you are a buyer or investor looking for a deal with equity, I can assist you directly and we can explore all options based on what your target property looks like.