Short sales are a helpful option for struggling homeowners, but they’re surrounded by misconceptions. Let’s bust some of the most common myths to help you make informed decisions.

Myth 1: Short Sales Are Only for Severe Financial Hardship

Not true! If your mortgage exceeds your home’s value, a short sale can be a smart financial move, even without extreme hardship.

Myth 2: Short Sales Destroy Credit

While they impact your credit, short sales are less damaging than foreclosures and allow for faster credit recovery.

Myth 3: Short Sales Take Too Long

Short sales can take a few months, but with experienced professionals, the process is often quicker and more predictable than you think.

Myth 4: You’ll Still Owe After a Short Sale

Many lenders waive the remaining balance if you negotiate properly. Know your rights and seek expert guidance.

Myth 5: Foreclosure Is Easier

Foreclosure has harsher long-term consequences on your credit and finances. A short sale gives you more control and less financial damage.

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Why Choose Short Sale Cooperative?

Short Sale Cooperative makes the process easier. Learn more about what a short sale is or explore Short Sale vs. Foreclosure to see why short sales can be a better option.