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SHORT SALE

WHATS A SHORT SALE?
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January 05 2008
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Congratulations Linda! I hope that it goes through. That would be a great start to the new year.
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January 05 2011
Hooray, the lender just called...the offer for less than what my seller owes is being reviewed by the lenders investor... 

This deal should be closing shortly!

Is your family in crisis?  Do you need to move?  Your property may qualify for a short sale!
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January 05 2011
Simple Answer -- When the owner of a home is selling it for less then what the mortgage lien(s) on the property are. In order to transfer title, they will need an approval from the lienholder(s) allowing this.

The actual process is far more complex but since nobody has answered this question from January of 2008... thought I would provide a quick answer.
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December 18 2010
 
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