short sales: What happens in a Short Sale
- 01/27/09 04:51 AM
What Happens in a Short Sale A "short sale" refers to a situation where the owner of the home does not have enough equity in the property and not enough cash or liquid assets to be able to sell the property, pay off liens and selling expenses (e.g., closing costs, property taxes, transfer taxes, real estate commissions) and provide a clear title to the purchaser. In short, there is more owed on the home than what it will likely sell for on the market. Lenders use the term to describe this as a loan that is "upside down." While many … (1 comments)
What Happens in a Short Sale 
;)
;)
