long: What Sellers should know about Long Island Short Sales
- 03/11/09 04:17 AM
If you are considering selling your Long Island home as a short sale, there is certain information you will need to have. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it. Here are some tips and strategies for homeowners that may be facing a short sale. 1. Hire a qualified … (3 comments)
If you are considering selling your Long Island home as a short sale, there is certain information you will need to have. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it. Here are some tips and strategies for homeowners that may be facing a short sale.;)
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