Why a short sale beats foreclosure
A completed foreclosure stays on your credit for seven years, can create a deficiency judgment for the unpaid balance, and often forces you out on the lender's schedule. A short sale is a negotiated transaction: you choose the buyer, you control the timeline, and the terms can include a full release of the debt and money for moving costs.
What David handles
A short sale has two negotiations happening at once: the buyer and the bank. David manages the lender side so your agent can focus on the sale.
- Hardship package and financial disclosures to the servicer
- Negotiating the lender's net and responding to counteroffers
- Deficiency waiver so the remaining balance cannot be pursued later
- Second liens, HOA arrears, and junior lenders that must sign off
- Relocation assistance where programs allow it
- Approval letter review before you sign anything
Working with your real estate agent
If you already have an agent, David coordinates with them. If you do not, he can refer you to agents experienced with short sales, which matters because a poorly handled listing can cost weeks the sale date does not allow.
Tax and credit consequences
Forgiven debt can have tax consequences depending on current federal law and your situation. David explains what to expect and when to involve a tax professional so there are no surprises the following April.
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