Why a Short Sale?

It’s Good for the Homeowner

A short sale allows you to remain in your home until the sale is complete. Instead of walking away and allowing the home to go through foreclosure, where you may still be liable for the unpaid balance of your mortgages, you will complete a short sale fully informed of debt forgiveness and/or any other requirements of your lenders.

It’s Good for the Community

Short sales help maintain values to other homes in the community by keeping sale prices higher and homes maintained and not sitting vacant. Additionally, the homeowner should continue to maintain the home to the best of their ability; therefore, keeping the curb appeal attractive while maintaining the home’s value.

It’s Good for the Lenders

Mortgage lenders are in the business of lending money, not owning real estate. Lenders want to avoid foreclosures. The foreclosure process followed by the home maintenance costs and subsequent sales cost is very expensive. In general, a mortgage lender makes more money in the short sale process than through the foreclosure process.

For additional resources, learn more about the Short Sale Process and FAQs.

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