Mortgage distress can lead to two common outcomes: short sales and foreclosures. While foreclosure is a lender-driven process that can cause lasting credit damage, a short sale offers a more controlled alternative. Homeowners who seek short sale help can negotiate with lenders to sell their property for less than the mortgage balance and avoid foreclosure. 

The Downsides of Foreclosures 

Credit and Financial Impact 

Foreclosures can stay on a credit report for up to seven years and significantly lower credit scores. This creates hurdles for future borrowing, renting, or even employment. The foreclosure process is also lengthy and stressful, involving court proceedings and forced eviction. 

Advantages of Short Sales 

How Short Sale Help Can Ease the Process 

A short sale allows homeowners to proactively sell their home with lender approval to avoid foreclosure. With expert short sale help, the negotiation and documentation process becomes manageable, making it possible to reduce financial damage and quickly move forward. 

Conclusion 

Short sales and foreclosures both arise from mortgage troubles, but short sales generally provide a softer landing. With the right short sale help, homeowners can work with lenders to successfully complete a short sale, minimizing credit impact and financial hardship.