Short Sale Highlights

A short sale is not always going to be the best solution, but many times is.  Some of the benefits to a short sale over foreclosure include:

• The homeowner avoids foreclosure and the massive credit damage that goes with it.

• The homeowner has more control over the timing of the transaction and their move from the property.

• The homeowner is able to avoid the embarrassment or stigma attached to foreclosure.  A short sale can be handled very discretely. To anyone not involved, the transaction looks no different than a traditional sale.

• In many cases, the homeowner gets a full release from the lender and is not financially responsible to repay the loss the lender takes.

• The transaction can be completed at no cost to the homeowner. The sales costs, commissions, title and escrow fees and most repair costs are all paid by the lender.

• An amicable solution to a difficult problem. The homeowner wins by getting the home sold, getting the loan paid off and having the ability to move forward without a foreclosure on their credit. The lender wins by saving the added expense of the foreclosure process.