Why shouldn't I just let my house foreclose?

That is a question realtors are often asked in this market where nearly 50 percent of the sales in Atlanta involve a distressed property.

Many homeowners are angry and upset regarding the situation they are in (owing more than their home is worth) which is why their immediate response becomes, "They can just take this darn house!"  However, that is a very dangerous response and can have volatile results for their future.

It is important to understand the differences between a foreclosure and a short sale and why in many instances cooperating with the bank on a short sale may be the best recommendation since it could possibly prevent some of the undesired consequences of a foreclosure, such as security clearances, a 200-300 point drop in credit score, employment obstacles and many more.

Take a look at the chart detailing the differences. It is always important that a CDPE be the one assisting you in any short sale transaction in order to get the best results.

For additional free reports, please visit this short sale information site at www.shortselling101.info where you will be given access to many informative reports regarding short sales.