I speak to a lot of homeowners and potential home buyers who do not know the difference between a foreclosure and a short sell. If you are having trouble making payments on your home and may consider these options, it is important to know the difference.
Foreclosures and short sells differ in various factors such as the effect on your credit score, how the bank handles each one, and what homeowners can do.
In this video from Long Island Real Estate Video Podcast, I interviewed Steven Ochs from Wells Fargo to bring the difference to you.
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