I have been noticing lately a significant piece of the puzzle missing in the short sale debate- an overlooked, yet vital consideration when making the decision to short-sell or not. Sure, tax and credit consequences are important. There are many factors to consider in regards to those two issues. What I see missing however is the mental, emotional and social aspects of making that decision.
Many homeowners who are facing hardship such as divorce, unemployment or underemployment want to stay in their home but simply cannot keep making the payments. The stress of living this way has ripple effects throughout their lives. They may take a second job, work more overtime, sacrifice activities with the kids and other family all in the name of making the house payment. Financial stress can effect relationships with spouses causing undue tension in otherwise healthy relationships. Ultimately they are consumed with keeping the house and ’doing the right thing’ and paying the debt they agreed to pay.
What I have been seeing though is the stress and burden of living this way often clouds owner’s ability to see the light at the end of the tunnel. They are trying so hard to do the right thing but are doing it at the expense of their sanity, their marriage and their blood pressure.
Once the difficult decision is reached to do a short sale I have seen first hand the positive visible effects on sellers. The burden is lifted, the clouds of stress pass and they are able to focus on their family, their relationships and moving forward with a fresh start. If you are in this position, do not sell yourself short. Do what’s right for you and your family.
For questions and concerns regarding short sales, please do not hesitate to contact me.
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