foreclosure: Understanding a short sale
- 03/11/09 01:22 PM
Q. What is a Short Sale? A. A short sale occurs when a property is sold for less than what is owed to a lender and the seller is unable to pay the lender the difference between what is owed and the sales price. Q. Can anyone do a short-sale? A. No you can only do a short-sale if you can prove hardship and do not have the assets to make up the difference between the amount of the sales price and the debt. Just because your home is "upside-down" or worth less than the current mortgage, does not make you … (0 comments)
Q. What is a Short Sale?
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