So we ended up doing a short sale on our property to avoid having to go through foreclosure with our primary residence. That’s the good news.
The bad news is, our rental properties are going through foreclosure and those will be on my record.
I’m not that worried about it, in terms of credit, because there are so many different ways to acquire real estate with bad credit. But I won’t be motivated to acquire real estate any time soon. Maybe for a few years unless I see an offer I can’t refuse.
Money is still tight and we’re living day by day.
Even if you can avoid one foreclosure with a short sale it was worth it.