Help for Homeowners who had a foreclosure filing in 2009-2010

This is an Independent Foreclosure Review by the Federal Reserve Board who has issued action against several large mortgage servicers. The review is free but you must request a review before 12/31/2012 Watch the video with this link for more info  http://bcove.me/ge01fiaz and please pass it on if you know someone who had a foreclosure filed during those times.

Short Sale or Foreclosure?

Troubled sellers often ask me; "Since I do not have any equity, why should I go thru the hassle of a Short Sale when I can do a Deed in Lieu of Foreclosure or just let my home go to Sheriff Sale/Foreclosure?" Here is the big reason why it is better to do a Short Sale. Either option will adversely effect your credit score however a Short Sale will have less impact and recovery time will be shorter.
Short Sale = about 150-200 points off your credit score and recovery time = 24 months
Foreclosure or Deed in Lieu of Foreclosure = 250+ points off your credit score and recovery time = 60 months