Jerry Cobb

The first of many installments...As a Certified Distressed Property Expert, I know many homeowners think that there's no difference between a short sale and a foreclosure in regard to their credit or their life.

Nothing could be further from the truth.

Fact#1: A homeowner who loses his home to foreclosure is ineligible for a Fannie Mae backed mortgage for a period of five years. A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed mortgage after two years. (source: Distressed Property Institute, LLC)

Homeowners need to know the facts about foreclosure and ways to avoid it...if you have questions, contact me at jerry.cobb@wesellmore.net or 719/492-4041.