What does the “Short Sale” aka “Short Selling” of a House mean?
"SHORT SALES" aka "SHORT SELLING" of a house is a process in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he/she owes.
If you are a Realtor® and would like to get registered with our Short Acquisition Program simply click here
If you are a direct property owner interested in our firm handling a short sale for you, please contact us immediately
