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Short Sale and Foreclosure in California

Short sale

In most cases people go for this option of a short sale in order to save their house from getting through the process of property foreclosure. Short sale has been an increasingly popular concept in the United States as many lenders have gone for this option as it is more viable for them financially. Also from the customer’s point of view going for a short sale has quite a few benefits.

Short sale helps a person in the United States to save his/her credit rating as the a real estate foreclosure reduces the credit points by nearly a couple of hundred points while short sale on the other hand causes nearly half the problems and the rating is reduced only by a hundred points. The biggest benefit of a short sale is that an individual takes a comparatively lesser time to get back to normal situation as credit is available to him/her after a year and a half while in case of real estate foreclosure credit is not available for nearly 3 years.