Short sale benefits

Short sale benefits

Short sale benefits- Are there short sale benefits? Sure there are, in fact one of the largest benefits is avoiding foreclosure. Short sale benefits such as avoiding foreclosure are a motivating factor for many homeowners who are upside down on their loans. Their main concern (and rightly so) is escaping the huge hit to their credit score that a foreclosure would entail. Short sales typically take a smaller “hit” to the FICO score verses foreclosure.

Other short sale benefits:

• HAFA offers $3k in relocation expenses. The government backed HAFA short sale program offers short t sellers $3,000 in relocation expenses as one of their short sale benefits.
• Peace of mind. No more phone calls and hugely reduced stress levels are huge short sale benefits.
• A fresh start. Wiping the slate clean opens the door to better life opportunities.
• Faster credit recovery. This means you can buy again sooner in a market that is more realistic, again another one of the nice short sale benefits.

Having to short sale your home does not make you any less of a person. In fact you must ask yourself: How wise is it to stay on board a sinking ship? Most of the time, a short sale is simply a smart business choice that benefits everyone. A short sale benefits the bank because they don’t go through the cost of a foreclosure. A short sale benefits the new buyer because they’ve found a new home at a reasonable price. Most importantly, a short sale benefits you because you’ve avoided foreclosure, taken a lesser hit to your credit and will have peace of mind knowing you made a smart business decision.

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