Sunday, July 17, 2011

What is a Short Sale?

A real estate short sale is when your mortgage banking establishment agrees to accept less than what is owed on the home.

Basically it is an alternative to selling your home when you owe more than what your home is worth. This is a less costly alternative to foreclosures, which banks prefer. This is why banks have become more lenient with accepting short sale offers.

For more information on short sales, visit my website.


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