distressed: 10 crucial steps to 'short sale' buying - 05/29/08 05:22 AM
There are very few active buyers in the real estate market these days -- but every one of them seems to be looking to buy a foreclosure or a short sale.
Foreclosure is a fairly well understood process, but as "short sale" signs sprout like weeds, you may wonder what it's all about.
When a lender agrees to accept a mortgage payoff amount less than what is owed in order to facilitate a sale of the property by a financially distressed owner, it's called a short sale. The lender forgives the remaining balance of the loan.
Everyone loses -- or … (7 comments)

 
Boris Miric, Realtor (Licensed in DC-VA-MD) (Fathom Realty)

Boris Miric

Realtor (Licensed in DC-VA-MD)

Washington, DC

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Fathom Realty

Address: District One Properties, 1305 Leslie Ave, Alexandria, VA, 22301

Office: (703) 600-7000

Mobile: (202) 459-4700

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