sale: What is a Short Sale? A Primer by The McKenna Team of Keller Williams
- 07/31/14 06:49 AM
A short sale in real estate occurs when the outstanding loans and liens against a property are greater than the proceeds from the sale of the home after all closing costs are paid. This occurs only when a homeowner meets the qualifications, and the homeowner’s lenders agree to allow a short sale. In the event of a short sale, a lender can release you FREE AND CLEAR from your mortgages and fully forgive you of any deficiency! In fact, the new Home Affordable Foreclosure Alternatives (HAFA) Program offers $3,000 BACK for relocation expenses, and some lenders are offering up to $5,000 as an (1 comments)