There are millions of individuals across the country facing financial disadvantage and ruin. The two greatest disadvantages are both job loss, and carrying an underwater mortgage rachat de crédit immobilier. Job loss is significant simply because with loss of an income, it often times results in loss of purchasing opportunities, or ability to maintain monthly financial obligations. With an underwater mortgage, considering this to be one of the largest investment opportunity most individuals will make within their lives, paying for a home worth significantly less than the mortgage note, can feel overwhelming. Should job loss occur along side an upside down mortgage, the stress can overcome many individuals.

Short sale opportunities have changed the way individuals take care of their personal finances. Rather than pay for an over inflated mortgage, individuals now have a potential opportunity to sell their home for the current market price without penalty, or in some extreme cases, allow a homeowner to repurchase their home for the discounted market price.

Under the Mortgage Forgiveness Debt Relief Act of 2007, sellers who participate in short sales, have the opportunity to structure any mortgage debt which has been forgiven, as excluded from annual tax obligation. This opportunity is currently available to homeowners until the year 2012. It is important to note that this can be an incentive for financial institutions to work with individuals, as it is rarely known, these institutions not only earn income on typical lending, some lending institutions can also earn income foreclosing on a home, as well as structuring short sales.

In a rarer event, sellers can sometimes negotiate to repurchase their same home at a lesser value. Should your credit score along with financial situation allow, and a short sale become approved through your lender, you may have the opportunity to work through a local lending institution to secure a new mortgage to bid on your own home. This process requires more risk, as most lenders will only work with homeowners whom are not current on payment, however, the reward could turn out to be very beneficial to the home owner. Because short sales are not treated the same as a foreclosure on your credit report, you may qualify for a new mortgage right away through a separate lender. This opportunity is also time sensitive, so acting quickly is a must.

A short sale record will appear as a negative mark on your credit report for eighteen months, as opposed to a foreclosure which can display for upwards of ten years. Financial planning should to be considered before your credit score is impacted. In the scenario where one homeowner was able to acquire a new mortgage through a local lending institution, and apply it against her current mortgage which was approved for a short sale to herself, she took advantage of her credit score while still in respectable condition, and applied for an automotive loan regroupement de crédit immobilier. She successfully applied and secured this automotive loan to purchase a newer vehicle. This was in anticipation of her credit score falling due to the coming short sale, but acting in time to take advantage of this opportunity.

Understanding the situation and opportunities presented, may allow homeowners options to improve their financial footing.