Benefits of a Short Sale

A short sale is the process of selling your home for less than the balance on your remaining mortgage, and thinking about this process may cause anxiety. However, there are many benefits to a short sale as well. The experts at Short Sale Cooperative can guide you through the process of a short sale and make the short sale process as efficient as possible by providing the processing services from start to finish. We will guide you through every step, helping you collect documents, process documents, negotiate, contact a real estate agent on your behalf, and so much more. We understand what a difficult time this can be, and we have the resources and personnel to help.

A short sale has many benefits when compared to a foreclosure. A short sale will eliminate your remaining mortgage debt, possibly obtain relocation assistance for you (in some instances), and allow you the chance to begin repairing your credit earlier than if you went through a foreclosure. In addition, a short sale will have less far-reaching repercussions on your credit than if you have a foreclosure. Plus, opportunities to purchase a new home become available to you sooner than if you allow a foreclosure on your home. For example, a Fannie Mae mortgage is generally available to you about two years after a short sale. On the other hand, after a foreclosure, a Fannie Mae mortgage is unavailable for up to seven years.