Legal Question in Real Estate Law in Florida

What is better for the home omner, as far as credit rating is concerned, foreclosure or short sale?


Asked on 2/01/10, 10:07 am

2 Answers from Attorneys
William Gwaltney William W. Gwaltney, Attorneys at Law

can't say for sure how bad either will effect the credit, but it stands to reason that a short sale (if you can get one approved) will be better on the credit than a foreclosure. Additionally, in a short sale the bank will not come after you for the difference, where in a foreclosure the bank will get a judgment against you for the difference between what it sells for and what you owe.

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Answered on 2/07/10, 7:12 pm
Lesly Longa Longa Law P.A.

I think a short sale is probably better. You can have an attorney try to negotiate a loan modification under certain circumstances. Call an attorney for more help. Regards,

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Answered on 2/08/10, 11:49 am


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