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• What is a Short Sale?In terms of real estate, a short sale is a type of sale where the amount got from the sale of foreclosed property is short of dues that have to be paid by the owner of the property. However in this type of a sale the bank agrees to discount the loan balance up to a certain amount due to the financial problems faced by the mortgagor.
• Short Sales Are Not A Get Out of Debt Free CardShort sales are almost the norm in some real estate markets. With nearly one in every four mortgage borrowers underwater, the amount of short sale homes is at an all time high. This is a real obstacle for potential home buyers and banks who are overwhelmed by the number of short sale files they need to deal with. Recently, Bank of America spoke to a group of real estate professionals in Washington DC about what
• What is a Short Sale Home? In Layman’s Terms Please!What is a short sale home? In layman's terms please! Do you keep hearing the words short sale in regard to selling or buying real estate lately? Would you like a brief easy explanation of what this means? Did you think short sale were only done in the stock market? Or, are you hoping you will be able to use the short sale type transaction to sell your home that you owe more money on than it is worth in
• The Honest Truth About What to Expect With a Short SaleAny one who is thinking about buying a house right now needs practical and truthful information about what to expect when considering buying a short sale or foreclosed home. Few Realtors will tell you the truth up front about the challenges of these properties. Read this article and get the straight facts as to what you can expect with a short sale purchase.