Short Sale Settle Loan Obligation For Less

Short Sales or Deed-In-Lieu (DIL)  Short Sale Settle Loan Obligation For Less .In the unfortunate situation where the borrower is unable or unwilling to stay in the home:

Assist borrowers to make the transition to a different residence.
Allows the homeowner to settle the mortgage loan obligation for less than the full amount owed.
Borrower avoids the uncertainty and stress of foreclosure.
Bank will provide cash to the borrower to assist in the transition.
Impact to borrower’s credit score less severe than foreclosure.
Neighborhoods not impacted by the foreclosure/REO stigma