What are the disadvantages from walking away in foreclosure Vs. Selling on a Short Sale?
SOLUTION: I believe selling on a properly executed short sale is better than walking away.
DISCLAIMER:
Before I answer questions below, I am not an attorney, a CPA, or an accountant. I suggest you seek legal,and/or competent CPA’s advice before making any decisions. [...]

You are in your current home right now and you are deciding what to do, you are looking at all of your options:
There is 1 decision you MUST consider as the first step:
Are you staying in your house, or leaving your house?
Let’s go one step further…
Do you want to stay, or are you [...]

HTML clipboard C: Leaving your house
1.Rent out your property-
-If you aren’t in foreclosure, or don’t plan on it
-If rent may be less than your mortgage payment, must be able to afford
-Can provide you with property management
-Provide you with rental placement of the tent, credit checks, marketing, etc
-Renters insurance recommended
2.Lease Option your [...]

B: Staying in your house
1. Do a Short-Refi-
-Before foreclosure is filed
-Current lender or new qualified FHA lender
-Close within 120 days or less
-Loan amount for new BPO at market value
-Approximately $225 out of pocket
-Need tax returns, w-2’s, 1099’s, check stubs, bank statements, etc
-Discharged Debt (Taxes possible see Mortgage Debt Relief Act of 2007)
-Debt-to-income [...]

FUTURE
A: Looking for housing
1. Looking to Rent
1st month’s rent + deposit, available date to move-in, monthly rent, min bedrooms, cities, housing type
2. Looking for a Rent to Own
1st month’s rent + option money 3%+, available date to move-in, monthly rent, min bedrooms, cities, housing type
3. Looking for a Contract for Deed
5% down minimum, [...]