Question: I am trying to decide
between a
short sale or
foreclosure on my home. On average how long will my
house stay vacant during the
foreclosure process? I am leaning toward a quick
short sale
only because I don’t want to board up my house.
Response: Regardless of the duration
of
foreclosure, you should always try to do a
short sale
rather than allow the property to get auctioned off,
which negatively affects your credit and keeps you on
the hook for the deficiency.
Foreclosure in New York, especially if contested,
can take several years.
Short sale
can also be a lengthy process but besides potentially
going away with monetary incentives,
short sales
in general are much better than the actual
foreclosure sale.
As a New York State
Licensed Real Estate Broker, Attorney Svetlana Kaplun
has the expertise to assist interested homeowners in all
steps of the
short sale process including: bank negotiation and
short sale approval, property listing and sale.
In the legal blog, Attorney Svetlana Kaplun addresses typical questions our firm has received from our clients, or come across from homeowners related to foreclosure, foreclosure defense, loan modification and bankruptcy topics.
The information contained in the legal blog of Attorney Svetlana Kaplun is for informational purposes only, and should not be construed as a legal advice on any subject matter. Please read our full disclaimer or contact the Law Office of Svetlana Kaplun, P.C. by telephone at 718-444-1115 for more information.
Copyright © 2015 Law Office of Svetlana Kaplun, P.C.
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