Short Sale or Loan Modification

Short Sale
•Avoid foreclosure and avoid massive credit damage
•No cost involved in completing a short sale
•May receive full release of liability from the debt
•May be able to purchase a home much faster than after a foreclosure
•Avoid the humiliation of a foreclosure – a short sale looks like a traditional real estate sale

Loan Modification
•Difficult to qualify
•Negative Equity – May still take quite a few years to break even to the purchase price of your property
•Companies charge up-front fees to perform loan modification services on your behalf
•Very time consuming
•Still some damage to credit score

What are other homeowners doing?
Many homeowners that are considering a short sale or a loan modification have decided that instead of waiting for the market to come back they are opting to sell their house now.

Fear causes people to shut down, blocks creativity, and immobilizes people in their tracks. What is feared is often an illusion that can be overcome with courage.

What are people most scared of?
The unknown. Most people are most afraid of what they don't know.

For example, someone is sick and they don't know what is wrong, they aren't sure what to be scared of whereas if they know what the problem is they can make plans to deal with it.

Once you start to figure out what to do the fear begins to subside.