Foreclosure: The most challenging issue against a security clearance outside of a conviction of a serious misdemeanor or felony. If a client is in the CIA, Military, Security, a police officer or holds any other position requiring a security clearance, in almost all cases the clearance will be revoked and the position will be terminated!
Short Sale: A Short Sale on its own doesn't challenge most security clearances.
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Current Employment:
Foreclosure: Employers have the right to check employees credit regularly. A foreclosure in many cases can be grounds for immediate termination or reassignment.
Short Sale: A Short Sale isn't reported on a credit report and is not a challenge to employment.
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Future Employment:
Foreclosure: Many employers are required to run a credit check on all job applicants. A foreclosure is one of the most detrimental credit items an applicant can have and in most cases will challenge employment.
Short Sale: A Short Sale is not reported on a credit report and is not a challenge to employment.
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Deficiency Judgement:
Foreclosure: In 100% of foreclosures (except in states where there is no deficiency), the bank has the right to pursue a deficiency judgement.
Short Sale: In some successful Short Sales it's possible to convince the lender to give up the right to pursuit a deficiency judgement against the homeowner.
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Deficiency Judgement (Amount)
Foreclosure: A foreclosure will go through an REO process if it doesn't sell at the auction. In most cases this will result in a lower sales price and longer time to sale in a declining market. This will result in a higher possible deficiency judgement.
Short Sale: In a properly managed Short Sale, the home is sold at a price that should be close to the market value and in almost all cases will be better than an REO sale resulting in a lower deficiency.
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If you need help with your current situation, contact me and I will be glad to assist you. Our office specializes in Short Sales and can assist in getting your home sold before it goes into foreclosure.
-Derek Heppe
Ace Realty


If there was ever a time to buy, this is it! Myrtle Beach Luxury homes have never been so available at such discounted prices. Luxury Communities such as the Grande Dunes, Plantation Lakes, The Bluffs, Carolina Waterway Plantation, Legends, Seaside Plantation, & Barefoot Resort all have properties listed at historic lows. Let me put my experience and expertise to work for you to help find and secure your Myrtle Beach Dream Home. Myrtle Beach Luxury Properties include: Single Family Homes, Townhouses, Luxury Condominiums, Oceanfront Homes & Condominiums, Golf Course Community Properties, Multifamily & Investment Opportunities. Visit my Myrtle Beach Luxury Home Page at DerekHeppe.com


