Well, in short, it's a carefully agreed upon sale of a property for less than the amount of the mortgage balance, executed as a means for both a homeowner and a.
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A short sale is the sale of a home for less than the homeowner owes on the mortgage. A homeowner who is unable to keep up with the mortgage payments may try to sell a home in a short sale to avoid going into foreclosure .
What is a short sale? definition and meaning – Definition of short sale: Borrowing a security (or commodity futures contract) from a broker and selling it, with the understanding that it must later.
WHAT IS an "APPROVED vs. UNAPPROVED" SHORT SALE ? | Miami. – An unapproved short sale means that the lender has theoretically agreed to the idea of entertaining an offer on the property (for less than the amount owed on the mortgage). But the lender’s commitment is rather nebulous.
A short sale in real estate is not always a pleasant transaction, but short sales have come a long way since 2006, so don’t sell the concept short. Our present economy does not mean short sales have gone away.
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What does Short sale mean? – Definitions.net – A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens’ full amounts, and whereby the lien holders agree to release their lien on the real estate and accept less than the amount.
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What Does "Short Sale" Mean In Real Estate? – A short sale occurs when a home is sold but the amount of the sale is not enough to cover what is owed on the seller’s mortgage loan, as well as closing costs, taxes and the commission owed to.
How Does a Short Sale Work? | US News – Short sales mean a loss for the lender, however, lenders may agree to a short sale if they believe it will be a better option than foreclosure.
Short sale homes are often a great deal and can be purchased below market value.. Just because the seller accepts your offer doesn't mean the lender will.