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Short Sale Highlights - A lender approved short sale.
- The homeowner avoids foreclosure and the massive credit damage that goes with it.
- The homeowner has control over the timing of the transaction and their move from the property.
- In many cases, the homeowner gets a full release from the lender and is not financially responsible to repay the loss the lender takes.
- The transaction can be completed at no cost to the homeowner. The sales costs – commissions, title and escrow fees and most repair costs – are all paid by the lender.
- An amicable solution to a difficult problem. The homeowner’s win by getting the home sold, getting the loan paid off and having the ability to move forward without a foreclosure on their credit. The lender wins by saving the added expense of the foreclosure process.
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