New Book Released 'Should I Short Sell My Home

In the worst Real Estate Market in History most people are trying figure out where they are with their home. The fact is 87% of all homeowners are underwater in their homes.

Now this does not mean that all of them are in trouble, what it does mean they are making payments on Homes that they cannot sell or refinance. If you puchase a home in the late 90's or 2000's when prices where climbing faster Jack's Bean Stalk grew you are most likely would of these people who are paying huge mortgage payments for a home that maybe worth half of what it cost you to buy.

The first thing people need to know is the a Short Sale is Not just for people who are behind in mortgage payments. In fact if someone tells you to get late on payments run away from them.

Many homeowners who are not behind in their mortgages are selling short sale and actually going out and buying another home. Here's the deal; unlike a foreclosure that is placed on your credit report first as 30, 60 90 120 days late when the bank takes back your home it will also show as a foreclosure. Now this is not over here, you could also be hit with a judgement for the difference of what you owe and what it sold. Ie. Difficency judgement.

Where as a Short Sale especially if you are on time with your payments shows up as paid and does not lower your credit score 300 to 400 points.

So if you are wondering the difference if you home goes to foreclosure you will not be able to get a new mortgage for 5-7 years. If you have a short sale You maybe able to go out and buy a new home right away or within 15 months.

Now as you may know that market is changing everyday and these numbers and times could change any day but for now think Short Sale it will help in the long run For more details get a Free Copy of " Should I Short Sell My Home" How to survive the worst Real Estate Market in History written by Real Estate Experts Tim and Julie Harris and Tim Robbins

For Your Free Copy Click Here