We recently retired and have enough cash to buy a home in another state. Should we short sale or foreclose, we could use all the cash we can save?

Asked by kmade99, Queen Creek, AZ Sat Nov 17, 2012

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Tyra General, Agent, Upper Marlboro, MD
Mon Nov 19, 2012
Hi,

I would really suggest that you consult with an attorney, Short Sale Realtor, and tax advisor. It is extremely important that you consider all your options.

If you want to set up free consultations, please contact us and we'll be happy to assist you.

Wishing you the best,

Tyra
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Tina Lam, Agent, San Jose, CA
Sat Nov 17, 2012
You can do a regular sale if you have remaining equity. You'll be able to preserve your credit in case you still need it. If you try to short sale, you'll likely get declined with your currently cash position. And, you can't foreclose on your home, which can only be done by your lender.
Web Reference:  http://www.archershomes.com
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