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What is a Short Sale? A Short Sale is a situation where your lender agrees to let you sell your home for less than you owe.
A record number of mortgages are now in, or entering, foreclosure. A Short Sale is a viable option for homeowners who are behind on their mortgage, and wish to avoid the pain of a foreclosure.
If you can't afford your mortgage payments, and you do not have any financial resources, we can negotiate with your lender to allow you to sell your property for less than you owe.
A seller deciding to lower their price and take less profit is not a short sale. A homeowner who owns their home free and clear, selling a $150k home for $75k, IS NOT A SHORT SALE. For it to be a Short Sale, someone must be getting "shorted." Either the seller, or the bank.
It is absolutely essential that you work with an experienced Realtor to list and sell your property.
Please refer to the following article for more infomation:
www.mortgagenewsdaily.com
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