Short Sale
A short sale is when you sell your home for less than what you owe on your mortgage. This can be a good option if you’re facing foreclosure and want to avoid the negative consequences that come with it. With a short sale, you’ll need to work with your lender to get their approval and find a buyer who’s willing to purchase the property for less than its market value. To learn more about short sales and whether they’re right for you, fill out the form below.
Description
A sale of the property where the homeowner doesn’t have enough equity to pay off all the liens on the property and the lender(s) has agreed to accept the net proceeds of the sale to satisfy the lien. The homeowner may face a deficiency judgment or be required to repay the deficiency to the lender.