1. A short sale can allow you to abandon the house in an orderly process. A short sale will allow you to list your home for sale and negotiate a purchase price that will allow you to leave the home on a set date with the buyer taking possession.
2. A short sale will allow you to walk away without a deficiency judgment. When you sell your house through a short sale the bank agrees to accept the purchase price as the final amount due and waive any responsibility the home seller has for the deficiency.
3. In a short sale, a realtor will do all the leg work on selling the house. All you will have to do is sit back and watch the realtor coordinate everything.
4. An attorney will negotiate for you with the bank so that you are aware of different options available. Short selling without an attorney could cost you thousands of dollars and prevent you from understanding all of your options.
5. In a short sale you live in your house until the house is sold. An attorney can negotiate with the bank in regards to the mortgage and potentially lower your monthly payment.