What is a Real Estate Short Sale?
If you need to sell your home but you owe more than it is worth,
a short sale may be the answer. In a short sale the lender allows
you to sell your home at current market value and then pay the
lender what is left over after selling expenses. You do now owe
the difference and your credit is not damaged.
Why do a Short Sale?
Home owners who complete a short sale get relieved from their
mortgage debt and no foreclosure occurs.
For example, if your home is worth $200,000 but you owe $300,000,
you can sell your home for $200,000 and the lender will release
you from the $100,000 that was not paid off with the sale. |
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Your Short Sale Here... |
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