Sheriff Sales

Sheriff Sales are what every homeowner in distress should avoid if at all possible. When a home is in foreclosure and it goes to a Sheriff's sale, there is nothing to be done to improve the homeowner's situation. When the Sheriff Sales are in effect, it is too late to do anything but leave your home. Homeowners dread Sheriff Sales because Sheriff Sales are associated with eviction and most homeowners do not want to be thrown out, evicted from their homes, and have their belongings thrashed out on the curb. It is embarrassing and homeowners do not have to go through with the Sheriff Sales. There are many options the homeowner can take to avoid Sheriff Sales.

Sheriff Sales VS Short Sales

Some homeowners think that since they are already in foreclosure, they can let the bank take their home and be done with it. This is not true. If you owe more for your home than it is worth, banks can and often do come after you for the difference. The difference is called the deficiency judgement and banks could take years before they come after you. Let's examine the table below to see the differences of a sheriff's sale and a short sale.

	Sheriff Sales	Short Sales
Will I lose my home?	Yes, the Sheriff Sale will auction your home to the highest bidder or the bank you owe (a stranger).	Yes, to the investor helping you with the short sale (someone you become familiar with)
Will I have to leave my home?	Yes, when eviction comes you need to be out before or by that date.	You can often work out a deal with the investor when you need to leave. In some cases, you can rent to own from a different buyer.
Will I have the deficiency judgement?	Often, yes.	If a short sale is successful, often no.
Will I have any money to help me move?	No.	Yes.
Will I be out of foreclosure?	No. With the Sheriff Sales, you are going through with foreclosure.	Yes, short sales stop the foreclosure process.
Will it save my credit report?	No. Sheriff Sales and Foreclosures destroy your credit score.	Since the foreclosure is stopped, your credit report will reflect that.

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