Is Short Sale the New Buzz Word?

The term “Short Sale” is used as a teaser by real estate professionals (unethical in my opinion) to suggest that a discounted deal is at hand, and that you can score “a good deal” with a distressed property owner. A quick review of the real estate ads in your local paper, or a review of the MLS with your agent, will reveal just how widely used (and misused) the description “short sale” is. Do you know what a short sale really is? A Short Sale is a transaction between a mortgage lender/creditor and a mortgage borrower/debtor in which the lender may authorize the borrower to sell their home for an amount that is less than the total owed to the lender. The lender could be a junior mortgage holder, as well as a first trust deed holder. The circumstance View the rest of this article


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