Short Sales instead of Foreclosure!!! - 12/19/08 12:34 PM
What is a short sale?? 
Definition: A short sale occurs when the proceeds of a real estate sale fall short of the balance owed on the property. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor.
Short sales are definatley a better route to go to get out of your current mortgage rather than just letting the bank foreclose.  In some circumstances the bank will forgive the remaining debt on the loan.  (Depending on the bank)  Short sales will have a much … (0 comments)

 
Christy Poole (Realty World Select)

Christy Poole

Fredericksburg, VA

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Realty World Select

Address: 1420 Central Park Blvd. #208, Fredericksburg, VA, 22401

Cell Phone: (571) 247-1974

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