Advantages of a Short Sale

Advantages for the homeowner are avoidance of a foreclosure on their credit history and some partial control of the monetary deficiency, and the process of a short sale is faster and less costly than a foreclosure. Controlling that deficiency and paying off one’s debt via a short sale is a surefire way to sidestep immense financial hardship and get back on one’s feet. While a short sale does adversely affect a person’s credit history, the impact is far less than that of a foreclosure.