As we all know, in today’s economy many people are faced with tough decisions because they are unable to make their mortgage payments. What is the best route to take if you find yourself in this situation?  Which has higher repercussions, a short sale or a foreclosure?  What exactly is a short sale? Is loan modification an option?

There is actually some great information available to help you start to figure out what is the best option for you.

If you live in the state of Colorado start by contacting theColorado Foreclosure Hotline1- 877- 601- HOPEFannie Mae has also just launched a very informative website. 

Both these websites will be a good start to give you the tools you need to start navigating the process. Who knows, maybe the outcome will end up being more positive then you thought.