short sale: Short Selling Your Home to a Family Member
- 12/06/14 03:16 PM
Applying for a short sale is usually the last resort homeowners have when they have fallen behind in their mortgage payments and are about to experienced foreclosure. In a short sale procedure, sellers put up the home for sale for less than they are indebted. Usually, banks do not allow you to sell your house on a short sale, as a short sale results in a loss on the balance sheets of the bank. Occasionally, they agree to acknowledge this to settle your mortgage debt. However, banks acknowledge short sales in situations, when this is a cheaper alternative for them than … (1 comments)
Applying for a short sale is usually the last resort homeowners have when they have fallen behind in their mortgage payments and are about to experienced foreclosure. In a short sale procedure, sellers put up the home for sale for less than they are indebted. Usually, banks do not allow you to sell your house on a short sale, as a short sale results in a loss on the balance sheets of the bank. Occasionally, they agree to acknowledge this to settle your mortgage debt. However, banks acknowledge short sales in situations, when this is a cheaper alternative for them than … (1 comments)
;)
;)
