Learn the impacts to the homeowner whose home is worth less in the current market than is owed for the loan and closing costs (Market value is "short" of amounts owed to the lender). The short sale involves many and complex issues and hurdles for the homeowner, lender, real estate agent and potential buyer of the short sale home. We did a lot of short sales through the 2006-2012 recession and learned a lot, from having a massive checklist to the logistics of dealing with banks, negotiating and closing short sales, and so much around the … (2 comments)
Why is a short sale bad?
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