5 reasons to avoid Foreclosure
The homeowner will always have to disclose they have had a foreclosure on any mortgage application.
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Credit scores will be lowered by 300+ points affecting the ability to get a car, rental housing, credit card, etc.
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A foreclosure is the one credit report item that is almost impossible to be “repaired”.
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Military and government security clearance could be at risk.
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Many employers run credit checks and a foreclosure could put new or existing employment at risk.
THERE IS A HUGE DIFFERENCE BETWEEN LIFE AFTER FORECLOSURE AND LIFE WITHOUT FORECLOSURE!
For a detailed list of the difference between foreclosure and a short sale, click here.