How long does the Naples Short Sale process usually take?
The entire process of a Short Sale generally takes 30 to 90 days (1 to 3 months). All situations are unique and therefore I cannot guarantee a specific amount of time. 5) What is the difference on my Credit between a Foreclosure and a Short Sale? A Foreclosure will show as A Foreclosure or A Debt NOT PAID. It is a very negative mark on your credit that can stay there for up to seven years! A short sale will show as – Debt Paid or settled. It is a much better mark and will make it easier for you to get credit in the future. Please consult one of the three major creditors for further explanation. 6) What are all of the liabilities when doing a Naples Short Sale? On December 20, 2007 President Bush singed a measure to provide financial relief for financially strapped homeowners facing foreclosure. The bill gives a tax break to homeowners who have mortgage debt forgiven as part of a foreclosure or renegotiation of a loan. NO TAXES WOULD BE OWED ON THE VALUE OF ANY DEBT FOREGIVEN OR WRITTEN
