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WHAT IS A SHORT SALE? A short sale in real estate occurs when the outstanding obligations (loans) against a property are greater than what the property can be sold for. The seller may get a 1099 for the difference, may have to repay the difference or in some cases the balance may be forgiven. A short sale will ding your credit by at least 50+ points, but a foreclosure will ding it even more at 150+ points. (Free Webinar on this topic and dates to be announced shortly). 
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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