terminology: What is a Short Sale?
- 09/15/10 10:54 AM
What is a short sale? A short sale is when the value of someone's home becomes less than what they paid for it (not uncommon in today's market where 1/3 of all homes sold are short sales). This process is undertaken by those that wish to avoid a foreclosure. A short sale, despite the name, can take several weeks, let alone months, to complete the transaction. This is for several reasons. Banks used to not invest very much time or money into the short sale department of the business because there is not much (if any) profit in handling a … (0 comments)
I love and live in the South Mountain area, near Laveen. I have been here for 20+ years and working in the community for the last 15. I have been very active within the community and love to attend all the functions and events that happen around town. In the mornings you can find me walking my dog around South Mountain, enjoying every minute of the desert landscape. I blog about what is happening around the area and a little bit about my business.
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