Short Sales can cause problems too.

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A Short Sale is when you sell your house at a loss with the agreement of the lender.

But there can be problems with the Short Sale of your home.

First, its going to go on your credit report. Whether it is a foreclosure, short sale, or deed in lieu, they are all three devastating to your credit score.

Then, theres the fact that the lender wants all the money that would have come from a normal sale of your home and will most likely come after you for the difference. The lender wants the difference between the price of the short sale and what you owe on your mortgage.

With a foreclosure, you get a redemption period of up to 12 months, but by having a Short Sale, that option is just gone.

So, if you are planning on doing a Short Sale of your home, be sure you have all the needed information on doing this at hand and make sure to consider all the negative aspects of a Short Sale.