When you have come to the reality that "life got in the way" whatever hardship has befallen you...illness, divorce, job loss, adjusted mortgage rate...some combination of those problems or others, one of the hardest things to do is look toward a sunnier future. Like Annie in the musical, Annie, "Tomorrow, Tomorrow....It's Only a Day Away". If you have listed your home as a short sale with a real estate short sale expert, you have made the first step toward getting on with the rest of your life.
As your short sales expert told you, this kind of action will "ding" your credit. The credit damage will not be as great as if you had allowed the property to go into foreclosure, but there will still be some work to be done to repair your credit. We can refer you to a credit repair person who can get your score back up to a money saving number ! Increasing your score can save you HUNDREDS OF THOUSANDS OF DOLLARS....the time to start repair, consultation...credit help is now !
SHORT SALE RULE NO. 4
Seek credit counseling as soon as possible from a qualified credit professional.
Sally
Sounds like great advice.
Sincerely
Tom Braatz
Sally & David,
Thanks for the post. The short sale ding is less damaging than the ding of a foreclosure. I had an meeting with a seller to list his home. Unfortunately, too much time had lapsed and the property had been surrendered. His only option to lessen the ding now is to do a deed in lieu of foreclosure.