Nishad, can you explain some of those options to our listeners?

Sure.

A short sale is not automatically the best option.

If the hardship is temporary and sus- a sustainable modification can keep the family in the home, keeping the home may be better.

I think the homeowner needs to first start with, do we wanna keep the home or is keeping the home not an option? So if the hardship is permanent, the owner has no net equity, the payment is not sustainable, and there is not enough time to market and close the property, a short sale may be the best controlled exit.

The real advantage, Steven, is control and closure.

The owner can market the property, choose from legitimate offers, plan a move, and potentially avoid a completed foreclosure.

And will a person who's going through a short sale have about the same timeframe as if they were doing a traditional sale, or does it happen faster or slower? What about that, Nishad?