How the Short Sale Benefits Homeowner or Borrower?

**williamsmth22** · 11-26-2009, 03:41 AM

Benefits of Short Sale.

**donaldfred** · 11-27-2009, 02:14 AM

A short sale of the real estate can be advantageous to the homeowner or borrower because:
1. It can help them save their credit history.
2. It can help them find a solution to an otherwise embarrassing situation.
3. It could reduce the stress of finding funds to answer a certain financial obligation.
4. It is the faster solution to mortgage foreclosure process.

**PreviewOrangeCounty** · 11-27-2009, 12:04 PM

A few benefits of a short sale:

1) Typically all fees ie. commissions, escrow, title, etc. are paid by the bank
2) Mortgage debt relief
3) A short sale most likely will affect your credit less negatively than a foreclosure
4) Most banks will pay property taxes that are in arrear
5) After a short sale, a home can be purchased in as little as 2-3 years
6) Some government programs and banks are offering cash incentives for home owners who conduct a short sale

For home owners who have exhaused the loan modification route and have a valid hardship, a short sale can be an attractive option.