Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What are the advantages of a short sale for the debtor (me)?

April 26, 2017advantages debtor sale short

0

Posted

What are the advantages of a short sale for the debtor (me)?

1 Answer

0

Posted

The advantages of short selling your property are significant. Selling your home via a short sale is a much better choice versus letting your home “go back to the bank” via a completed foreclosure proceeding. Thus, by short selling a property, you can keep a harmful foreclosure entry off of your personal credit history. Also, the difference between the original mortgage and the short sale offer, also known as the deficiency balance, is negotiable in the short sale settlement process.