[urbanrealtor]

Short sale affects credit less.
Generally lower fico hit and the GSE'(fannie and freddie)s have a short moratorium on purchasing after (like 2 years).
This is in contrast to foreclosure/deed in lieu which has a 5-8 year moratorium.

If the loan is non-recourse, either of these will erase the debt.
If the loan is recourse, the process of recovering money will be more costly. The amount that the lender pursues the borrower for will likely be higher with an REO than with a short.
Also, there are ways to declare the recourse loan non-recourse that are more feasible in a short (if you need a legal referral for that let me know).

Bottom line, shorts tend to be less destructive but are (much) more of a pain in the ass. Foreclosing involves essentially doing nothing and just changing your phone number (collection calls). I actually teach a course on making this decision and the inertia of a foreclosure vs the stress of a short is the biggest decider.

OT: so my broker wants us to resurrect the foreclosure tours. What does everybody think of the name “REO Speedwagon”?

Just a thought.

[urbanrealtor]

Short sale affects credit less.
Generally lower fico hit and the GSE'(fannie and freddie)s have a short moratorium on purchasing after (like 2 years).
This is in contrast to foreclosure/deed in lieu which has a 5-8 year moratorium.

If the loan is non-recourse, either of these will erase the debt.
If the loan is recourse, the process of recovering money will be more costly. The amount that the lender pursues the borrower for will likely be higher with an REO than with a short.
Also, there are ways to declare the recourse loan non-recourse that are more feasible in a short (if you need a legal referral for that let me know).

Bottom line, shorts tend to be less destructive but are (much) more of a pain in the ass. Foreclosing involves essentially doing nothing and just changing your phone number (collection calls). I actually teach a course on making this decision and the inertia of a foreclosure vs the stress of a short is the biggest decider.

OT: so my broker wants us to resurrect the foreclosure tours. What does everybody think of the name “REO Speedwagon”?

Just a thought.

[urbanrealtor]

[quote=patientrenter]LOL! esmith and urbanrealtor: you are talking at cross-purposes. esmith says when he can’t get good stats on scholastics, but can get good stats on variables that are correlated with scholastics, he uses the other variables to estimate the scholastics.

urbanrealtor reads that esmith says that if you’re black or hispanic, or your parents are unschooled, then you’ll disrupt your schoolmates’ education. Challenges esmith to withdraw comment or be tattooed as “white male racist bigot” – and a suspected Republican to boot!

One of you needs to teach what correlation means, and the other needs to learn what it means. Good luck!
[/quote]
I don’t think either of us are unaware of what correlation means.
I can’t speak to esmith’s schooling but most of his arguments seem cogent. This one did not and that is why I took issue.
Speaking of myself, I have taken several postgraduate classes in statistical correlation.
Nor are either of us talking about labels.
We simply have a difference of opinion about the significance of correlation.
My problem was that saying you cant get stats on a school flies in the face of reality. Those records are easy to get but not always online.
I don’t think either of us challenged the other to withdraw a comment.
We just disputed each other’s assertions.

[urbanrealtor]

[quote=patientrenter]LOL! esmith and urbanrealtor: you are talking at cross-purposes. esmith says when he can’t get good stats on scholastics, but can get good stats on variables that are correlated with scholastics, he uses the other variables to estimate the scholastics.

urbanrealtor reads that esmith says that if you’re black or hispanic, or your parents are unschooled, then you’ll disrupt your schoolmates’ education. Challenges esmith to withdraw comment or be tattooed as “white male racist bigot” – and a suspected Republican to boot!

One of you needs to teach what correlation means, and the other needs to learn what it means. Good luck!
[/quote]
I don’t think either of us are unaware of what correlation means.
I can’t speak to esmith’s schooling but most of his arguments seem cogent. This one did not and that is why I took issue.
Speaking of myself, I have taken several postgraduate classes in statistical correlation.
Nor are either of us talking about labels.
We simply have a difference of opinion about the significance of correlation.
My problem was that saying you cant get stats on a school flies in the face of reality. Those records are easy to get but not always online.
I don’t think either of us challenged the other to withdraw a comment.
We just disputed each other’s assertions.

[urbanrealtor]

[quote=patientrenter]LOL! esmith and urbanrealtor: you are talking at cross-purposes. esmith says when he can’t get good stats on scholastics, but can get good stats on variables that are correlated with scholastics, he uses the other variables to estimate the scholastics.

urbanrealtor reads that esmith says that if you’re black or hispanic, or your parents are unschooled, then you’ll disrupt your schoolmates’ education. Challenges esmith to withdraw comment or be tattooed as “white male racist bigot” – and a suspected Republican to boot!

One of you needs to teach what correlation means, and the other needs to learn what it means. Good luck!
[/quote]
I don’t think either of us are unaware of what correlation means.
I can’t speak to esmith’s schooling but most of his arguments seem cogent. This one did not and that is why I took issue.
Speaking of myself, I have taken several postgraduate classes in statistical correlation.
Nor are either of us talking about labels.
We simply have a difference of opinion about the significance of correlation.
My problem was that saying you cant get stats on a school flies in the face of reality. Those records are easy to get but not always online.
I don’t think either of us challenged the other to withdraw a comment.
We just disputed each other’s assertions.

[urbanrealtor]

[quote=patientrenter]LOL! esmith and urbanrealtor: you are talking at cross-purposes. esmith says when he can’t get good stats on scholastics, but can get good stats on variables that are correlated with scholastics, he uses the other variables to estimate the scholastics.

urbanrealtor reads that esmith says that if you’re black or hispanic, or your parents are unschooled, then you’ll disrupt your schoolmates’ education. Challenges esmith to withdraw comment or be tattooed as “white male racist bigot” – and a suspected Republican to boot!

One of you needs to teach what correlation means, and the other needs to learn what it means. Good luck!
[/quote]
I don’t think either of us are unaware of what correlation means.
I can’t speak to esmith’s schooling but most of his arguments seem cogent. This one did not and that is why I took issue.
Speaking of myself, I have taken several postgraduate classes in statistical correlation.
Nor are either of us talking about labels.
We simply have a difference of opinion about the significance of correlation.
My problem was that saying you cant get stats on a school flies in the face of reality. Those records are easy to get but not always online.
I don’t think either of us challenged the other to withdraw a comment.
We just disputed each other’s assertions.

[urbanrealtor]

[quote=patientrenter]LOL! esmith and urbanrealtor: you are talking at cross-purposes. esmith says when he can’t get good stats on scholastics, but can get good stats on variables that are correlated with scholastics, he uses the other variables to estimate the scholastics.

urbanrealtor reads that esmith says that if you’re black or hispanic, or your parents are unschooled, then you’ll disrupt your schoolmates’ education. Challenges esmith to withdraw comment or be tattooed as “white male racist bigot” – and a suspected Republican to boot!

One of you needs to teach what correlation means, and the other needs to learn what it means. Good luck!
[/quote]
I don’t think either of us are unaware of what correlation means.
I can’t speak to esmith’s schooling but most of his arguments seem cogent. This one did not and that is why I took issue.
Speaking of myself, I have taken several postgraduate classes in statistical correlation.
Nor are either of us talking about labels.
We simply have a difference of opinion about the significance of correlation.
My problem was that saying you cant get stats on a school flies in the face of reality. Those records are easy to get but not always online.
I don’t think either of us challenged the other to withdraw a comment.
We just disputed each other’s assertions.

[urbanrealtor]

You’re very welcome.

[urbanrealtor]

You’re very welcome.

[urbanrealtor]

You’re very welcome.

[urbanrealtor]

You’re very welcome.

[urbanrealtor]

You’re very welcome.

[urbanrealtor]

[quote=Allan from Fallbrook]Dan: JP ain’t a dude. I’ll kick ya if ya want, though. Just because you asked me to. Not like I’d do that on purpose or anything. Just sayin’.[/quote]

Hmmm….
So many options to consider…

[urbanrealtor]

[quote=Allan from Fallbrook]Dan: JP ain’t a dude. I’ll kick ya if ya want, though. Just because you asked me to. Not like I’d do that on purpose or anything. Just sayin’.[/quote]

Hmmm….
So many options to consider…

[urbanrealtor]

[quote=Allan from Fallbrook]Dan: JP ain’t a dude. I’ll kick ya if ya want, though. Just because you asked me to. Not like I’d do that on purpose or anything. Just sayin’.[/quote]

Hmmm….
So many options to consider…

[Author]

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