Short Sale Information

Wondering, “What Is A Short Sale?”

In the simplest terms, a short sale is the sale of your property at a price that is lower than what you owe on the property. The bank that holds the mortgage on your house, agrees to take less than the full mortgage balance as satisfaction in full.

For example, if your property is worth $600,000 in today’s market, but you have a loan for $675,000, the bank may agree to let you sell it for $600,000 as long as you don’t get any profit from the sale.

Usually short sales are employed when the value of the property has fallen to less than the mortgage balance, and the owner needs to sell… often due to financial hardship or changes in personal circumstance.

Now, if you are considering a short sale on your personal residence, there are a few more things you need to know.  I lay all these out in my Free Special Report for you: “Should I Short Sale My Home.” I encourage you to pick up your copy now, so you can make the best decision for your property.  Just put your name and email in the form on the  right, right now to be taken to the download page.