The worst thing on a homeowner who is behind in payments... a completed foreclosure on their credit. Once the shortsale is approved, and noted on their credit as paid as agreed, the seller's credit should rebound in time, if they are paying on their other bills as they should. Now they can move into a property they can better afford and sleep better at night.
It's an exercise of patience for everyone, the banks, the seller, and the buyers. This approval process, if the bank accepts the offer, is going to take at least 6 weeks, maybe a lot longer.
If you have any questions whatsoever about buying a shortsale property or preforeclosure or are considering a shortsale as you are behind in payments, please feel free to contact me anytime. I am here to help...Stephanie
Stephanie LeFew
Tampa Florida Realtor Shortsale Specialist
813-624-3332 cell phone
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