If you can no longer afford your home and other mortgage assistance programs have not been successful, a short sale can help you resolve your delinquency and avoid foreclosure.  With a short sale, you sell your home and, with your mortgage company's approval, use the proceeds to pay off all (or a portion of) your mortgage balance - even if the sale price is less than what you currently owe on your mortgage!

BENEFITS

Eliminate or reduce your mortgage debt.  Avoid the negative impact of a foreclosure.  Start repairing your credit sooner than if you went through a foreclosure.  May be elibiible for relocation assistance.  May be able to get a Fannie Mae mortgage to purchase a home sooner (in 2 years) than if you went through foreclosure (at least 7 years).

To learn more about a short sale, and if it might be a good option for your situation, visit www.KnowYourOptions.com.