bernards township real estate: The Basics of a Short Sale - 02/13/10 02:54 AM
THE BASICS  A SHORT SALE:

Banks grant short sales for 2 reasons: the seller has a hardship, and the seller owes more on the mortgage than the home is worth.
A few examples of hardship are:
Unemployment/Reduced Income
Divorce
Medical Emergency
Job transfer out of town
Bankruptcy
Death

If this is the situation you find yourself in, please do not hesitate to contact me for more information on the Short Sale process. It is not a process to be afraid of, but it is important to hire a Real Estate professional who is familiar with the process.
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