Last updated on June 4, 2014
When you are dealing with an underwater mortgage, one of the major benefits of completing a short sale is that you are in control of the sale, not your bank. As illustrated by the informative infographic above, you have control and you know exactly who will purchase your home. Therefore, you will generally feel less stressful than someone who is having their home taken by the bank. Furthermore, you do not have to deal with the negative stigma that society has placed on foreclosures. On the whole, your short sale experience will likely feel very similar to the experience of selling your home in the traditional way. Therefore there are more benefits of short-selling your property, rather than allowing for foreclosure with your bank.