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DEAR BOB: I'm behind on my mortgage payments and probably will be foreclosed. People have told me to (1) do a "short sale" of the property, (2) give it back to the lender with a deed in lieu of foreclosure, or (3) proceed to foreclosure and then file bankruptcy. Please explain the pros and cons of each. Do I have to have a short sale before I can do a deed in lieu of foreclosure? What if I sell the property at market value, but that's not enough to pay all the debts? --Napin E. DEAR NAPIN: A "short sale" means you sell the property for less than the mortgage balance at its market value and the mortgage lender agrees, in advance, to accept the net amount as payment in full to satisfy the mortgage. Purchase Bob Bruss reports online. Lenders can be very difficult about agreeing to a short sale. You need a listing agent experienced with short sales who can deal with your lender and who will insist you receive absolutely nothing from the sale. Most mortgage lenders will not accept a de...