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Welcome to Your Worcester County Massachusetts Short Sale Site. Your Site for Real Estate Help, Answers & Action!
Welcome to Your Worcester County Massachusetts Short Sale  Site.  Your Site for Real Estate Help,  Answers & Action!
 

 
 
 
Frequently Asked Questions
 
What is a Short Sale?In the world of Real Estate, a short sale refers to the sale of real property for an amount less than the amount owed on the property. In the short sale scenario, the bank agrees to accept less than the full balance due on the debt, and usually ‘forgives' all or a large portion of the difference.
 
How will the Short Sale affect my credit?Short Sales are still a relatively new concept. Banks have the option of submitting the short sale to the credit bureau as "Paid in Full" or "Settled for less than full balance". As far as your credit score is concerned, there is no evidence whatsoever to support that a short sale will lower your credit score. Some have the idea that this is like a bankruptcy or a foreclosure. That's far from the truth! In a short sale, the lender is simply allowing you to pay less than you owe!
If you are currently behind on your mortgage or facing foreclosure, the short sale will actually help your credit! ... more

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