If you have a seller who is thinking of leaving a Hawaii house in foreclosure I can explain some of the advantages of a short sale.
On the one hand, if the owner chooses a short sale and not a foreclosure, the owner has control of the sale, not the bank if it goes into foreclosure. If you sell the house, you can save the social stigma of the bank mortgage on your home. The sale of the site will be treated like any other sale.
Sellers who are not in danger of foreclosure and are currently on their payments can also do a short sale and selling fast at home if for some reason, they need money for other reasons or can not see the end of the property return home due to job loss or other factors.
The main disadvantage of a short sale is that it can appear on your credit report and your FICO score drop from fifty to 130 points. Short selling is often seen as a comment as "settled for less" or fully paid under the agreement. A little less painful for your credit.
If the seller makes a seizure, he or she may not be able to buy a house for another five years at least, but the wait is usually seven years. If you opt for a short sale will be able to buy another house as soon as you can repair your credit score.
