short sale or foreclosure

Part II – Options: Short Sale?
Knowing the home’s worth, now, you can decide what to do. Can you still pay for the home? Are you behind in the payments? Have you talked to the bank?
Thinking about selling? Short sales will affect your credit, but not as bad as foreclosure. If you’re going to pursue this method, be certain that the agent you have chosen can do a short sale and close it. Are they charging an upfront fee? Whether that be for their time or a packet or what have you, if they’re asking for 1,500 – 3,000, grab the running shoes and get out of there. No one can guarantee the bank will go thru with the short sale, no matter what they say.
The bank pays commission for the sale, so a realtor has no reason to charge a fee upfront. The short sale does require a lot of paperwork, and you must supply all of this. If you cannot or will not supply all the paperwork, then a short sale is not the method you want to use. www.abetterrealty.net (scroll to the bottom and short sale check list)