Good morning, all, it is hot, hot , hot, and the hot topic in todays market is short sales. I get ask all the time, what is a short sale., and it is what its name implies. The lender will come up short if they help the owner get out of their mortgage. Benefit to the owner- you have a loan balance greater than what your home will sell for in todays market. The lender will either prepare for forecloser, (very costly) or they can forgive the difference.
The process to prepare for a short sale is lenghty, but more sensible than allowing foreclosure if the numbers work.
Ask your specific questions about Short Sales, and maybe I can help.
Dee
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