) 5 Criteria for comparison The ability to obtain a mortgage in the Future Credit Security CLearances Current and future employment Deciency Judgment In a foreclosure a homeowner may have to wait up to 7 years to qualify for a home loan. In a short sale a home owner may be able to qualify for a Fannie Mae backed loan in 2 years. Short sale will have less effect on a homeowners credit than a foreclosure, sometimes it will have no effect. Foreclosures will have a negative effect in a [...]
