There are many reasons to sell your home as a short sale. Here are a few -
1. The loan is higher than the home is worth
2. There is a hardship by the seller - loss of income and/or employment, divorce, health issues
3. Less impact to credit than foreclosure
4. The process can move more smoothly and sometimes quicker
5. Sometimes you get HAFA money to move on
These are some reasons to do a short sale
LORI BOWERS
http://www.desertareahousingmarket.com
The Lori Bowers Group
A boutique Real Estate Office, with a full service team to serve all your Real Estate Needs
La Quinta, Palm Desert, Indio, Rancho Mirage, Coachella , Indian Wells and the surrounding Palm Springs Area.
78065 Main St., Suite 107
Old Town La Quinta
La Quinta, CA 92253
Phone: (760)777-8788 • Fax: (760)771-5355
I'd list the hardship as the number one reason! And also add, expected hardship at a given point in time. There's a short sale listed in my neighborhood that has been going on for 2 years and he hasn't missed any payments. That one makes me wonder!