If you are a homeowner who is currently in a situation where you need to sell your home because of job loss, illness, divorce, etc. you may wonder whether you would qualify to sell your home as a short sale, to avoid foreclosure.

This can be an unsettling and intimidating time … It is important to work with a Real Estate Professional who is experienced and understands the “ins and outs” of this type of transaction. An educated Realtor can guide and advise you how to proceed.

Both Terri Hunt and Justin Hunt are SFR CERTIFIED. They each hold the SHORT SALES and FORECLOSURE RESOURCE (SFR) CERTIFICATION by the National Association of Realtors.


Foreclosure vs Short Sale*

Credit Score

  • Foreclosure -Score may be lowered anywhere from 250 to over 300 points
  • Short Sale – Score may be lowered as little as 50 points – carries less negative effect

Credit History

  • Foreclosure – Foreclosure will remain as public record for minimum of 7 years
  • Short Sale -Short sale is typically reported as “paid in full” or “settled debt” on credit history

Deficiency Judgment

  • Foreclosure – Banks may pursue deficiency judgment
  • Short Sale -Can often negotiate to zero

* Source Gardi & Haught Ltd.
* Used with written permission from H. Gardi March, 2012