hud1: 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)
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. 
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