Many buyers facing foreclosure are not aware of the many advantages to co-operating with their bank in selling their home.  Surely, there are many different considerations they should be aware of so that they can make informed decisions.  .

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Once the home is listed and an offer is being reviewed, the process will most likely take a few months. Even in situations where the bank has filed a notice of default, the negotiating process will include moving the sale date back. In most cases the owner will have the option of staying in the home for a much longer period.

When it comes to friends, family, the neighbors and coworkers, losing a home to foreclosure can be a real embarrassment to many.  Selling the home is one way to eliminate this concern because actually, they have put their home on the market just like any other seller.

Many homeowners feel a strong sense of failure while losing their homes. Some of them may have invested their own money and are facing financial losses while others have spent hours and hours decorating and remodeling the home to their liking. In some cases, homeowners may feel like they are letting their spouses and children down. By selling the home, the owner can begin the process of leaving the past behind them while moving forward in a positive direction.

In several cases, the owner may be facing tax consequences and should discuss the details of their situation with a professional tax consultant. Losing the home in a foreclosure will not prevent and many times it may  reduce their liability. Ignoring the problem will only make matters worse.  Realizing that an individual has no tax consequences is a major relief and should be viewed as a real positive. For those that do have tax consequences, now is the time to start addressing the matte. Either way, this step is vital in moving forward.

Although rare, foreclosures, deeds in lieu and short sales all may have other financial consequences. The borrower should explore these if any.   It is very common for homeowners to hear feedback from misinformed, well meaning friends and family members about how the bank will "come after them" after they exercise the short sale option. In California this is a complete falsehood. During the short sale transaction, the seller will become educated and fully aware of the banks willingness and obligation to forgive the debt and release the homeowner of any further financial responsibility.

Losing a solid credit rating can be very difficult to accept for many people. Most homeowners believe that their credit profile is a lost cause. The client needs to know that the negative credit issues may be temporary and the manner in which they handle the debt is critical. Settling the debt through a short sale is view much more favorably then a foreclosure, in credit terms. At all costs an eviction must be avoided because ultimately it will be made a matter of public record and the party will have very limited options for living arrangements. The short sale provides the best alternative in limiting one´s credit reputation. It serves as the best solution for those that plan to become homeowners again, someday.

In the ideal short sale transaction, the listing agent will handle all communications with the creditor. Upon commencement of the short sale process, the borrower will have a buffer between himself and the financial institution.  Usually, the bank will begin interacting with the realtor and unwelcome phone calls and letters will be reduced.  The homeowner has the option of allowing the foreclosure problem to rest in the hands of an experienced professional.

The homeowner will want to make short term plans for living arrangements. Schools, lease payments, terms and neighborhood options should all be considered. With a short sale transaction, the owners will have a qualified real estate agent available, to walk them through the process of getting resettled.

Losing a home is a very emotional and in some cases a frightful experience.  It is one of the most stressful issues one may deal with in a lifetime. Having proper support and encouragement can have a decisive impact for the borrower. These individuals need to know that they are not alone and that thousands of normal successful people have lost their homes.  Right now, they can begin restructuring their lives so that at some point in the not so distance future, they can enjoy the benefits of owning a home, if they so desire. Working with the right short sale listing agent will give the seller all the positive reinforcement they need to move along with their lives.

Some lending institutions are beginning to offer monetary incentives for those that choose to cooperate by participating in a short sale. It is the Realtor´s duty to determine what type of aid the bank is willing to offer.  Having extra financial resources will help the homeowner get resettled.

As indicated, the short sale alternative offers many advantages to the many consumers which are inevitably going to lose a significant investment and possession. The real estate agent plays a vital role in assisting these homeowners make well informed decisions, planning for the future and improving their overall financial circumstances. It is the agent´s job to provide the individual with all the tools necessary to begin the rebuilding course. Given all of the facts, the majority of homeowners are willing to cooperate in the short sale process.