Key Benefits of a Short Sale to avoid Foreclosure in Vermont

What is a short sale?  If the loan balance exceeds the value of the property, a mortgagee may contact the bank and seek approval to sell the property and repay less than the full amount due.

A foreclosure can follow you forever.  A successfully negotiated short sale can mean being back on track financially in a much shorter and easier timeframe.  Below are some key benefits to completing a short sale versus letting the home be foreclosed on.

Below are some of the key benefits of a Short Sale. For further information, view our Foreclosure vs. Short Sale free report.

• Usually minor impact to your credit score provided other payments are still being made
• No impact to your security status
• Qualify for a new mortgage in half the time
• Mortgage is marked as “paid as agreed” or "negotiated" instead of "foreclosed" on your credit report

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