short sales mn: Short Sales - They're Everywhere. What Does This Mean, Exactly?? - 02/15/09 11:18 AM
By Sara & Chad Huebener
Short sales - we are hearing more and more about them, as well as foreclosures.  What exactly is a short sale and how does this differ from foreclosure? 
A short sale is the sale of real property where the value of the property is less than the outstanding mortgage and other liens against the property.  The mortgagor (owner) must typically demonstrate financial hardship in order for the bank to accept a short sale, and often times, must have missed payments.  The bank, through its loss mitigation department, agrees to accept less than the outstanding loan balance, and the … (0 comments)

 
Chad & Sara Huebener (Edina Realty)

Chad & Sara Huebener

Savage, MN

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Edina Realty

Office: (952) 212-3597

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