If you’re a homeowner with a distressed property it can be overwhelming to get your head around all the available options (a short sale is just one of them). Here’s an eight-minute plain-english explanation of the five basic options you can pursue:
If you want to dig deeper on these topics here are a few threads from our Q&A site with peer-reviewed answers from experts in the real estate industry:
- What is a deed in lieu of foreclosure?
- What effect does a short sale have on my credit?
- How long will a foreclosure remain on my credit report?
- Is it possible to “hedge your bets” by simultaneously pursuing a loan mod and a short sale?
- What effect does a short sale have on my tax return?
Provided people find these video explanations useful we’ll be publishing more videos like this to help demystify the process. Let us know what topics you’d like to see covered in future videos by leaving us a comment below.