Expert, localized Los Angeles answers provided by Heather Roy

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Short Sale or Foreclosure

  My house has been on the market for over a year now and I am now short selling it. I am also thinking about just foreclosing as well by this summer if it doesn't sell. I just don't think I can continue to pay for an empty house. What do I do. I don't want to rent it out.
 
  If your lender will settle for a short sale, by all means sell immediately for whatever you can get.  That will be much better on your credit record than a foreclosure would by.
    Edith
Originally published on April 8, 2008
 
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