Jim Griggs

Definition of Short Sale:

•1. To sell your home for less than what you owe = Short Sale.

•2. Mortgage company doesn't place a *Foreclosure on your Credit.

•3. No **Deficiency Lien Judgment on your Credit.

•4. No ***Sherriff Sale.

*Foreclosure:

•· Foreclosure - will be attached to your credit for up to 10 years.

•· Foreclosure - will get you high interest rates for up to 10 years.

•· Foreclosure - will not let you get another Mortgage for 7-10 years.

**Deficiency Lien Judgment:

•· A Deficiency Lien Judgment is the difference between how much you owe and how much your home is sold for.

•· For Example: If you owe the Mortgage Company $300,000 & your home is sold for $200,000. Your Deficiency Lien Judgment would be $100,000 and remain on your credit until paid.

***Sherriff Sale:

•· You lose your home to the Mortgage Company

•· You get a Foreclosure on your credit.

•· You get a Deficiency Lien Judgment on your credit.

Jim Griggs

Sales Consultant

Cell: 517-6981

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