Infographic – What Is A Short Sale?
When considering a short sale o fa home, there are many pros and cons. The benefits of a short sale could get rid of negative equity, reduce house payments, and help you qualify for a mortgage faster. However, on possible negative outcomes it can ruin your credit sscore, cause your lender to pursue a deficiency balance, or you can end up paying taxes on forgiven debt. If you do in fact owe more than the value of your home but have been making payments on time, a HARP Refinance Loan can be more beneficial to you.
