Typically short sales are completed to avoid foreclosure and the damages it can do to credit rating. A short sale can potentially avoid a deficiency judgment from the lender and be a less severe marking to credit rating. Short sales can also be completed to help homeowners who cannot afford their mortgage payments or have had to relocate from their property for a job transfer. A short sale can be completed on rental properties but sometimes guidelines and qualifications can vary. Give us a call to discuss any questions you may have.
Posted in: Homeowners