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What Is a Short Sale? When you owe more on your home than it's worth and you need to sell, the transaction in which you will sell your property is called a short sale. You need your lender's approval to do a short sale because they'll be accepting less than they're owed at closing.
This guide covers the basics of buying a short sale home, including details about how a short sale works for the seller, to help you decide if pursuing a short sale is worth the extra time and effort.
Buying a home through a short sale is similar to buying a foreclosure, but the two processes aren’t the same. In a short sale, the bank or mortgage lender does not evict the homeowner. Instead,...
A short-sale home can provide potential homebuyers with an affordable housing option. Understand how buying a short-sale home works and if it is right for you.
Buying a short sale can score you a sweet deal on a home. Learn how to make an offer on a short sale that will set you apart from the competition.
A short sale occurs when the bank allows a homeowner to sell a home for less than what is currently owed to the bank. Find out how this might affect your future. In this article: What Is a Short Sale? How Does the Short Sale Process Work? How Does a Short Sale Impact your Credit? How Long Until You Can Buy Again? Other Considerations.
A short sale in real estate is the sale of a home at a lower price than what’s owed on the mortgage. The transaction requires the lender's approval and is a last resort to avoid foreclosure...
What is a short sale? Simply put, you're selling your home for less than you owe on your mortgage. Here's what home sellers and buyers need to know.
A short sale — sometimes known as a preforeclosure sale — is when a mortgage lender agrees to allow a borrower to sell their home for less than what’s owed on the mortgage. The lender...
Key Takeaways. A short sale usually indicates a homeowner in financial distress, a real estate market in the doldrums, or both. The short sale must be approved in advance by the mortgage...