Benefits

Notes

No foreclosure on your credit

 record

However, Short Sale does have some affect on your

 Credit  (80-100 points hit). Compared to Foreclosure

 and  Deed in lieu of foreclosure will bring a

250-280 point hit.

Possibly lower tax liability

You must be in a hardship.  We do suggest that you

Consult A tax advisor or an Attorney on the impact

 of a short sale.

No deficiency judgment

In California, Purchase Money Loans are NOT

 subject to Deficiency judgments; however,

hard money loans, home Equity loans and

refinances are.

No Eviction

In a Short Sale you get to stay in your home until the

 close Of escrow.  But you must get approval from

the bank for An extension of the Trustee sale

date until there is a Short Sale approval.

No Cost to you!

No out of pocket money is usually expected from you

 in a Short Sale.  The Lender is responsible

for all cost and Expense of a Short Sale.