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Aurora Loan Services Short Sale – Contrary to what other people may tell you, you should not be afraid to sell your home with a short sale today. People are concentrating on looking at the negatives of this option rather than looking at its advantages. As always there are two sides to everything, so have an open mind when you decide on using a short sale or not.

Aurora Loan Services will agree to a short sale because it can be more cost effective than a foreclosure.  Mortgage companies do not want to foreclose because it can cost more than just being able sell the property quickly via a short sale. If ownership is transferred to the mortgage company, then they will shoulder the extra expenses. These would include fees for lawyers, court fees, late mortgage and even maintenance fees. With short sales, mortgage companies are saved from all of these expenses.

If you sell your home with a short sale today, the mortgage company has accepted the sales price as payment in full and no further payments or balance is due. All you have to do is to find a real estate agent that will help you in talking to the bank when it comes to payment terms. Since a short sale would then have a lower price than your mortgage balance, it is best to find one that will come up with the best terms for this.

When thinking about your options know that with current mortgage guidelines you must just wait 2 years after a short sale before being able to buy a new home.  2 years is half the time you could have to wait if you opt to go the foreclosure or bankruptcy route.

Never think of a short sale as a bad option because it can actually be a better one for you.   Foreclosure and bankruptcy are certainly other options to explore, but know what you are getting into.  You may find after doing your research and thinking about your best choices you may find your best choice is an Aurora Loan Services Short Sale.