A short sale is a transaction in which the lender, or lenders, agree to accept less than
the mortgage amount owed by the current homeowner. The difference is generally
forgiven by the lender, and in some cases the homeowner may have to make
arrangements with the lender to settle the remainder of the debt.
The short sale process generally costs the lender less versus processing a foreclosure,
which can be a viable way for a lender to minimize losses.
Homeowners who are “upside down” on their mortgage(s) can also find this to be their
best option because a short sale may not hurt their credit history as much as a
foreclosure. This means that a homeowner may be able to qualify for another mortgage
sooner as they get back on their feet financially.
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By digitally signing this form you are providing with your express written consent to send you business and marketing communications via email and by calls or prerecorded messages dialed by a natural person or by an automatic or automated telephone dialing system. This express written consent applies to each such email address or telephone number that you provide to us now or in the future and permits such communication regardless of their purpose.
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Address: '123 Main St, Anytown' Neighborhood: 'Downtown' Zip: '98115' City: 'Anytown' or 'Anytown, State/Province' MLS number: 'MLS# 38065544'
