A short sale can be beneficial to a homeowner in several ways, including:
Avoiding foreclosure: A short sale allows the homeowner to sell their property for less than the outstanding mortgage balance. This can help the homeowner avoid foreclosure, which can be damaging to their credit score and financial future.
Reducing debt: A short sale can help the homeowner reduce their debt, as they may be able to negotiate with the lender to forgive the difference between the sale price and the outstanding mortgage balance.
Relieving financial stress: By completing a short sale, the homeowner can relieve the financial stress of owning a property they can no longer afford. This can help them move on and start fresh with a new financial plan.
Preserving credit score: While a short sale may negatively impact the homeowner's credit score, it is typically less damaging than a foreclosure. This can help the homeowner preserve their credit score and improve their chances of obtaining credit in the future.
Give you more TIME in the home for us to help you strategize on your next move, and come up with a plan that does not result in you either moving out in the middle of the night, and/or foreclosing with no clear path to where you will move to next.
Moving on with their life: A short sale can help the homeowner move on with their life, as they are able to sell the property and avoid the stress and financial burden of owning a home they can no longer afford. This can be especially beneficial for homeowners who are facing job loss, divorce, or other major life changes.