Real estate blog entries tagged with short salesmonterey caforeclosures by Mary Aguilar (David Lyng Real Estate)

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Home : Blogs : Mary Aguilar : Mary's Blog : Tag "short salesmonterey caforeclosures"

short salesmonterey caforeclosures: Short Sales - 07/19/08 06:10 PM

You have probably heard the term "Short Sale" on the news or in a newspaper article about the Sub-Prime Housing crisis. But do you really know what a Short Sale Means?
A Short Sale occurs in real estate when the outstanding obligations (liens) against a property are greater than what the property can be sold for. In order for a Short Sale to close successfully, the lienholder(s) need to agree to FORGIVE a portion of the debt that is secured by the Real Estate being sold and accept a discounted mortgage payoff.
What are the Qualififications for a Short Sale?
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Mary Aguilar

Monterey, CA

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