Short Sale
what is involved in a short sale
A short sale is the sale of property for less than the outstanding loan obligations on the property. By short selling, the homeowner can avoid foreclosure. A short sale allows the homeowner to sell their property for the current market value. Short selling can offer a homeowner financial relief during a hardship such as a […]
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A short sale is a result of a homeowner’s home value being less than the mortgage balance and not being able to bring their mortgage current.  The homeowner may have borrowed too much for the property, or the market dropped, causing the property’s fair market value to be less than the existing mortgage balance. Usually, […]
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what are the advantages disadvantages of a short sale
There are several reasons to consider a short sale rather than modifying a loan or allowing your home to be foreclosed upon. A homeowner can get out from under crushing mortgage debt, experience lesser damage to their credit score, and qualify to buy a home within two years of the short sale.  From the lender’s […]
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