There are a lot of people who are wondering whether a short sale would be better than a foreclosure or vice versa. There are different factors that are proving these things, and both sides have their own stands as to why the other is better than the other.
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Las Vegas Short Sales Versus Foreclosure
1. LAS VEGAS SHORT
SALES VERSUS
FORECLOSURE
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2. LAS VEGAS SHORT SALES VERSUS
FORECLOSURE
There are a lot of people who are wondering
whether a short sale would be better than a
foreclosure or vice versa.
There are different factors that are proving
these things, and both sides have their own
stands as to why the other is better than the
other.
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3. LAS VEGAS SHORT SALES VERSUS
FORECLOSURE
As we go through this article, we will be
discussing some of the things that you need
to know about short sales and foreclosures.
If you want to find out which option would be
better for you, then you need to read this
article.
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4. LAS VEGAS SHORT SALES VERSUS
FORECLOSURE
Before we move on, let me disclose
something for you; I am in favor of short
sales, because I believe that you will get
better benefits from it.
But claiming something without proof won't do
any good, so here are some of the reasons
why I think short sales are better than
foreclosure.
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5. LAS VEGAS SHORT SALES VERSUS
FORECLOSURE
Legal Issues
The main reason why a lot of people hate
foreclosure is because the process can be
very time-consuming and expensive.
Even lenders hate the idea of doing
foreclosure because it will take a lot of time.
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6. LAS VEGAS SHORT SALES VERSUS
FORECLOSURE
So before getting foreclosed, lenders can
have you sued and force you to pay for the
property before it gets foreclosed.
On the other hand, if you are going to enter a
short sale, you will be saved from this
problem, and most lenders will forgive you.
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7. LAS VEGAS SHORT SALES VERSUS
FORECLOSURE
If you will get into a short sale, you will be
able to pay some of your debt, and suing you
could cost more than what you owe to your
lender.
So make sure that you are going to make a
wise decision before you get into a
foreclosure.
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8. LAS VEGAS SHORT SALES VERSUS
FORECLOSURE
Credit Rating
Both short sales and foreclosures could have
a negative impact on your credit rating.
This refers to your capability to pay for your
loan, and having low credit rating will make it
hard for you to take a loan in the future.
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9. LAS VEGAS SHORT SALES VERSUS
FORECLOSURE
The worst thing that could happen to you is
that you won't be hired in some companies.
There are companies that will check your
credit history before they hire you, and if they
found out that you have a low credit rating,
your chances of landing on a job will be less.
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10. LAS VEGAS SHORT SALES VERSUS
FORECLOSURE
If you are going to get into foreclosure, the
usual credit rating drop will be 200
points, which would take about 5 years to
recover. With short sales, you will also get
credit rating drop, but it will only be around 80
points, which would take about a year or two
to recover.
Both options have a negative impact on your
record, but the end results have great
differences.
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11. LAS VEGAS SHORT SALES VERSUS
FORECLOSURE
Tax Breaks
Another reason why short sales are better
than foreclosure is because you will be free
from your remaining taxes if you do short
sales.
Unlike foreclosure, wherein your taxes would
remain the same, filing short sales will free
you from your previous tax duties.
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12. LAS VEGAS SHORT SALES VERSUS
FORECLOSURE
If you would like to learn more about Las
Vegas short sales, then all you have to do is
to visit our website www.ToddMillerTV.com
now!
I can provide you with all the information that
you need to know, and you can be assured
that you will always get accurate and updated
information about Las Vegas short sales.
www.ToddMillerTV.com
13. LAS VEGAS SHORT
SALES VERSUS
FORECLOSURE
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www.ToddMillerTV.com