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Short Sale and Foreclosure in Massachusetts

Is short sale the only alternative?

A very common myth among many people is that the only feasible way to avoid property foreclosure is by opting for a short sale, in some cases as the short sale experts might point out this is true however in most of the cases there are many other alternatives available to the home owner to avoid foreclosure other than just short sale. Also to be kept in mind is that not as much as the property foreclosure but short sale surely does impact the credit rating of the homeowner negatively while the other options might not.

Refinancing is one of the most common methods adopted to avoid foreclosure and many other debts and this does not go against the credit rating as well. Another viable option is to get an investor buy the house and pay off the loan. You might give up the ownership but you would have credit available. The above states are just two simple ways however short sale is not the only alternative but there are many more ways to avoid foreclosure.