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What is a
Short Sale?
A
short sale is the process by which a
homeowner can sell a house for less money
than he actually owes on the mortgage(s).
This is done by
providing proper documentation to the
mortgage lenders to convince them to reduce
the mortgage balance to allow the sale. The
mortgage lender (or bank) actually takes a
loss on the mortgage because the value of
the home has fallen below the mortgage
balance AND the homeowner is in a poor
financial condition that will not allow him
to continue to pay on time. If the bank
approves the discount on the mortgage, the
home can be sold for a lower price without
the seller having to come up with cash to
cover the shortfall, and the mortgage is
satisfied and the foreclosure process stops.
We are
experts at
handling
short sales.
For more
information,
If you are
in the Louisville/Southern Indiana
area,
+Click
Here
If you are
in the Naples/Ft. Meyers/Cape Coral
area,
+Click
Here
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