Understanding Short Sales

What is a Short Sale?

A short sale occurs when a property sells for a price that is insufficient to pay back the loan(s) secured against it. In order to complete such a sale, the Seller's lender(s) must agree to forgive all or a portion of the debt.

In a short sale, the bank agrees to discount a loan balance because it will incur a smaller financial loss than foreclosure. Borrowers are able to mitigate damage to their credit report. It is a win-win solution. The end result is your home is sold, the loan is satisfied (paid off) and you avoid a foreclosure or bankruptcy in the event of economic or financial hardship. Read more.

Avoid Foreclosure			Required
Contact Information
First Name
Last Name
Email Address
Phone Number
Preferred method of contact
Best time to contact you
Property Information
House #
Street Address
City
State
Zip Code
Primary residence or Investment property
Questions
Months Behind
Loan Amount
Purchase Price
Year Purchased
1st Mortgage Bank
2nd Mortgage Bank
Approximate payoff or Balance owed on 1st Mortgage
Approximate payoff or Balance owed on 2nd Mortgage
Monthly Payment
Enter the verification code in the field below and click the submit button.
Get a new code