Short Sale

A short sale is when you sell a home for less than what the home owner owes on the mortgage. The mortgage lender agrees to forgive the difference and the home owner gets a chance to sell a home that he may no longer be able to afford. Short sales have become more common since the financial crisis of 2008.

Featured Short Sale Article

Short Sale Process Problems Arise When Contractor Liens Home

Added November 5, 2009 by Ilyce R. Glink

Short Sale Process Problems Arise When Contractor Liens Home
Short sales, foreclosures and other purchases of real estate can always lead to problems. One risk in buying a home in foreclosure or from a seller in a short sale is that the seller or the bank owner had work done on the property and the contractor never gets paid. The contractor, in this case a painter, then files a contractor lien on the home and the subsequent buyer may get stuck with the bill.

Short Sale Videos

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Pricing A Foreclosure Or Short Sale

January 14, 2009

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Summary:

Buying a foreclosure or short sale is basically the same as buying any property on the housing market. You may be able to get a good deal on a foreclosure or short sale if the market is full, but the market value and property value in your area will drive the pricing and financing the loan. Watch…

Watch Video: Pricing A Foreclosure Or Short Sale