A short sale is an "arrangement" between the current owner of a home, or in most cases an expert in the short sale help niche of the business, and their lender (bank) to buy their home for less than the total amount owed to pay off the home. The "deficiency" is the difference between the amount owed and what the bank may collect at the short sale
A Short Sale offers a way out of debt and leads to a fresh start.
Listed below are some of the reasons to conduct a Short Sale:
1. Erase a large debt
2. Get debt free fresh start
3. Minimize damage to credit
4. Take charge over the foreclosure process
5. Avoid eviction
6. Allow yourself the option to move anywhere you want without having the burden of a bad credit making it difficult to rent or buy.