I'm asked this question all the time. Is a short sale really better for a homeowner than a foreclosure?
The obvious issues (impact on credit, ability to get a future mortgage, security clearances, eviction) are explained in the link below:
Aside from the obvious issues that foreclosure brings, I think the stress and heartache are the hardest to deal with.
My clients always tell me how relieved they are once they make a decision to move forward and take control of their situation. A short sale allows the sellers to move forward and get on with their lives, and this is what I think is the most important benefit of all. Making a decision and setting a course with intention is liberating. After months (sometimes even years) of being hounded and bombarded with constant reminders of missed payments and large sums of money owed, the thought of being able to start over with a clean slate almost always brings a sense of peace and hopefulness.
While this is by no means a solution to all of your financial problems, it can certainly be a step in the right direction.
Are you ready for a fresh start? Call us when you are.