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Short Sale Information For Roseville Ca Homeowners
Short Sale Information Short Sales unfortunately is part of the Real Estate Language today and for the next few years. For a homeowner in this situation it can be overwhelming and a bit confusing especially for those homeowners who would like to stay in their home. I hope this information is helpful to Roseville Ca Homeowners as well as homeowners in out region.
Short Sales Explained
A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions.
But to be technical, here's a more official definition:
A homeowner is 'short' when the amount owed on his/her property is higher than current market value. A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage. ... more
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