Homeowner Consequences for a Successful Short Sale Vs. a Foreclosure in Minneapolis

I have written previous articles defining short sales and foreclosures.  I will now compare the consequences to a homeowner of a foreclosure versus those of a successful short sale.

Future Fannie Mae Loan--Primary Residence

Future Loan with any Mortgage Company

Credit Score

Credit History

As you can see, it's better to have a short sale than a foreclosure.  If you have any questions regarding short sales or foreclosures, please contact me at steven@stevenhong.com.  I will be glad to help you.

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