short sales: What is a Short Sale & Is It For Me? | Help for Homeowner's! - 07/30/08 04:05 PM

Lately I have had numerous people ask me if they should try to short saletheir home.  These are people who are stuck in increasing adjustable rate mortages, interest only loans with balloon payments coming due that can't refinance or afford to pay the balloon payment, high interest rate loans with extremely high mortgage payments that they can no longer afford and people who want or need to sell, but feel that they won't be able to get what they owe on their homes due to declining values.  
Short sales have saved many people from foreclosure thus saving lenders hundreds of thousands that they would … (0 comments)