Would you recommend a foreclosure or a short sale to a friend who is having difficulty paying the mortgage? Why or Why not?

I would recommend a short-sale. The foreclosure will cause a blemish on my credit report and after the foreclosure, I walk away with nothing. Nothing but memories and bad credit.

When I short-sale my property, I can sell the property, pay off the mortgage and maybe keep a few dollars in my pocket. This is especially true if I sell the property myself and give myself the commission from the sale. When I do the short sale, if I owe $55,000 and I am able to sell for $65,000, I can even have enough for a down-payment on another home.

Even though it is a short sale, there are times when the homeowner can make a profit from the sale.

I think a short sale is better than a foreclosure. foreclosureattorneysnow.org.

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