Short Sale
A short sale occurs when the lender agrees to let the
homeowner sell the
property for less than the mortgage loan amount to cut
litigation
cost, time and paperwork.
A short sale required the seller has a qualified buyer who can pay the entire payoff immediately.
Most lenders don't want to foreclose. They know they have a better chance of recovering the debt from the current owner.
We offer professional help to put together a Short Sale package and deal with the Banks and Lenders. Contact Us to find out more.
There may be taxes due
associated with short payoffs; contact your tax advisor.
Some states permit lenders to seek a
deficiency judgment for the amount the payoff was discounted. See your state's foreclosure law for
more information.
Check with an attorney for advice on
your personal situation.
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