Consider a SHORT SALE if:
- Unemployed or significant
- Reduction in income
- No longer want the home
- Loans greatly exceed the value of the home (most home owners owe 50% more than the current value of their home)
- Have failed at loan modification
Consider a Loan Modification if:
- Employed.
- No major change in income.
- Want to keep the home.
- Only need the loan's interest rate or term altered.
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