Short Sale - Do You Understand?

What do you know about a short sale?  A short is not like foreclosure where the bank "takes your house."  What it does do is gives the homeowner an option besides foreclosure.  The bank will allow the delinquent homeowner sell the house for less than what they owe on it. There are a few reasons as why this is a better option then just letting it go.

It's Free
That is right, a short sale is at no cost to you. All selling expenses are paid by your lender, including the title insurance, attorney fees, agent commissions, and back taxes. There is no sense in making you pay money for something that you are already behind on.

No Public Humiliation.
In the case of a foreclosure, it is apparent to neighbors and those who drive by when your home succumbs to foreclosure. This is not the case in a short sale. Your homes listing will look like any normal listing on the block.

Your Credit is Protected.
People assume that a short sale will negatively effect their good credit, but it is just the opposite. This is one of the biggest advantages of a short sale over a foreclosure;  your credit rebounds faster than if you would foreclose.

We try to help everyone we come across and give you some options for your needs. We do recommend talking to your bank and finding out if this is an option if you are in need of help.