Скачать или смотреть Pros and Cons of short sale

Like any option, a short sale has its advantages and disadvantages.
Advantages:
Less damage to your credit score compared to foreclosure (though it still has a negative impact).
Avoids the emotional and legal toll of foreclosure.
May relieve you of the mortgage debt if the lender forgives the deficiency (the difference between the sale price and the mortgage balance).

Disadvantages:
The process can be lengthy and uncertain—lender approval isn’t guaranteed.
Potential tax implications if the forgiven debt is considered taxable income (consult a tax advisor).
Requires finding a buyer willing to navigate the complexities of a #shortsale sale.

#arizonarealestateagent #shortsalespecialist #teamabarca

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