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Short Sale - 5.16.2012
 
What is a short sale? Some of you know that I am learning as I go, as I work with Arizona and California hard money lender, Source Capital. I feel lucky to know Source Capital partners, Sacha Ferrandi and Pat Hook of San Diego County. They are real estate loan experts and I definitely am not! They have become a valuable resource to me and my education process. I mention this, because they are available as a resource for you, as well.
Ready to buy again? Don't let a previous short sale, foreclosure, bankruptcy or other "bad credit" situation get in your way. Contact Source Capital's private loan specialists!

From the information I have gathered, I have now learned, a short sale is an alternative to a foreclosure. It does, however still impact someone’s credit report negatively. I can only imagine it must also be as stressful and emotional, as a foreclosure or similar situation is.
Basically when the sale of a piece of real estate falls short of debts secured by liens against the property, it is referred to as a “short sale.” It is an agreement whereas the lien holders agree to remove any liens to ... more

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