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September 13, 2010

How Does a Short Sale Work

How does a short sale work is one of the most common questions people ask. As more people face foreclosure, the need for short selling has increased. This strategy allows mortgagors the option to sell their home for less than owed on their home loan. However, short selling can lead to additional financial problems if not properly orchestrated.

In order to understand how does a short sale work, borrowers should contact their bank's loss mitigation department. Each banks' short sale policies can differ, but all require bank approval before listing the property for sale at a discounted rate

Real Estate Investing article on "How Does a Short Sale Work "

July 30, 2009

What is a Short Sale

Many homeowners are asking "what is a short sale?" Rumors are flying around the Internet suggesting everyone who is struggling to make ends meet can sell their home for less than they owe and walk away from their property. While there is a portion of truth to this, borrowers must meet certain criteria before being allowed to short sell their home.

Today, I would like to provide an overview of what is a short sale to clear up any confusion you may have. 'Short sale' is a real estate industry term used when a lender accepts a discounted payoff on a mortgage loan. Short sales offer homeowner's who have defaulted on their mortgage an opportunity to sell the home for a lesser amount than is owed and avoid foreclosure.

Real Estate Investing article on "What is a Short Sale"

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