When considering ways to stop a sheriff sale, one must think about the following.

When considering ways to stop a sheriff sale, one must think about the following.

A Short Sale is where a third party purchases the residential property and the creditor accepts a low ball rate as full settlement of the debt or with deficiencies too, that the homeowner needs to pay on (The deficiency amount will likely be the difference between the amount of the house sold for at foreclosure auction and exactly what the customer owed on the real property and the legal costs for the foreclosure). This is not to great an offer given that the creditor will not sell for too low ball a figure and forgive deficiencies quickly, they want money. However, most of all, the borrower loses the home, hardly a good option for a home owner.

A Repurchase After Foreclosure is where the debtor makes arrangements to purchase back a foreclosed real property after the auction. But, if the homeowner had the resources themselves or through others to organize this, they would not likely be in repossession in the first place.

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