The Difference Between Short Sale & Foreclosure Part II

If you’re unsure if you can continue to keep up with your mortgage payments, you may wonder what your options are. In our last blog, we discussed the main differences between short sale and foreclosure. A short sale is a path you can take to resell your home for less than the amount you owe on it. A foreclosure happens when a mortgage forcibly possesses ownership of your house if payments are not made on the property.

A short sale does not negatively affect credit compared to a foreclosure. If a lending institution agrees to accept less than the amount owed on the mortgage, then you can sell your house. At Key Realty School, we offer mortgage continuing education courses in order to assist MLOs in satisfying the continuing education requirements set forth by the SAFE act. Key Realty School is one of the preferred real estate and business education providers in the Western United States. The school’s dynamic instructors, course materials, and school counselors provide for a learning environment that has helped shape business practices and careers of licensees for decades. The educational provider Learn Mortgage allows students to conveniently complete their mortgage continuing education requirements with our comprehensive online courses and webinars. Visit Key Realty School online to learn more!

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