home >> short sales
SHORT SALES
The short sale process is basically the selling of a home at fair market value, which is below the outstanding mortgage, the lender essentially forgives the difference. In addition to avoiding foreclosure and the implications thereof, credit scores suffer less of a blow and the property remains inhabited and therefore properly maintained until resale. Whether the property is bought by an investor interested in fixing it up to sell for a profit, or a buyer looking to reside in the property, short sales is a welcomed alternative to the rising foreclosures since 2007. In the end, the goal remains to keep productive pieces of property on the market.
