What is a short sale? A short sale is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan.
Short Sale Advantages
Facing Foreclosure? Learn the New Exit Strategy that is saving Homeowner’s
Understanding Short Sales
As foreclosure rates hit record levels, more sellers are turning to short sales as a way to avoid foreclosure. So, how does it work? First, you must hire a Realtor that is experienced in closing short sales. In a short sale, the seller arranges with their mortgage lender to accept a price that's less than the amount they owe on the property. As part of this arrangement, the lender typically agrees to forgive the rest of the loan. As a result, the seller doesn't have to go though a foreclosure, the buyer picks up a property at a discount, and the lender avoids taking on the burden of unloading the property.
What is a Short Sale?
Short
sales appear on your
credit report as
"pre-foreclosure in
redemption", not as
"debt discharged due
to foreclosure"
- Less impact on your credit score
- All mortgage debt is fully discharged
-
You can get on
with your life
Do not wait...time is of the essence. Fill out the information below and get your home SOLD today.
