RE/MAX Eastern Inc, and Rothamel Bratton, LLC. - Short Sale Division

Short Sale Services in PhiladelphiaLearn how Rothamel Bratton, LLC can work on your behalf, at no cost to you.

Contact one of our experienced short sale agents to assist you with the short sale process today.

Why should a Seller consider a Short Sale?

Many homeowners that are not familiar with a short sale believe that Bankruptcy or Foreclosure are the only options. In reality, both can be avoided, which can help rebuild a favorable credit score, avoid potential default judgments, and promote the opportunity to move beyond what will hopefully be a temporary challenge in that homeowner’s life.

A short sale is an excellent opportunity for a homeowner who can no longer afford his monthly mortgage payments, owes more than the property is worth, and has a Buyer who is ready, willing and able to purchase the property.

What is the Difference Between a Short Sale vs. Foreclosure?

A short sale is typically preferable to a Foreclosure or Bankruptcy, as the impact on a homeowner’s credit report is generally less significant. Recent reports have indicated that Foreclosure and Deed-in-Lieu of Foreclosure may result in a hit on the homeowner’s credit of approximately 250 to 300 points. Bankruptcy can be up to the same, and often a Foreclosure is not avoided, simply stalled. It was also reported that the affect of a short sale on a Seller’s credit is usually much less damaging and can appear as a “compromised” or “settled” status, resulting in less of a blemish on credit. With less of an impact on your credit report, it is more likely that you will be able rebuild credit in a shorter period of time.