Southern AZ Homes - What is a Short Sale?
A short sale is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan and a short sale may or may not involve a property in foreclosure." This page offers information about the basics of short sales and advice for homeowners in alternatives before facing foreclosure.
SHORT SALES ADVANTAGES
- Short sales appear on your credit report as "pre-foreclosure in redemption", not as "debt discharged due to foreclosure"
- Less impact on your credit score.
- All mortgage debt is fully discharged.
Ken Cook gives seminars, publish articles, and feeds a very popular radio show talk host with information for his real estate investment show.
If you are a homeowner that may be in a financial crisis and needs to sell your home as quickly as possible. Here you will find several link(s) on information to the option of a short sale of your home before losing your home to foreclosure.
- Dual Upside To Foreclosure Alternative
A little-known alternative, once more commonly used in the real estate downturn of the early '90s, is the "short sale," which works like this:
- Housing Counsel: What's a Short Sale
You are in financial trouble and your house will not sell for enough money to even pay off the mortgage, let alone a real estate commission.
- The New Exit Strategy: A short Sale
Some experts are now advocating a “short sale.” This is a case of a distinction with a difference: If your bank agrees to a short sale, you then hire an agent to find a buyer for the house, you sell the house for a loss.
- Short Sale May Be an Option
In a declining housing market, the value of a home sometimes falls below what is owed on it. When you can no longer pay the amount owed, you have several options.
- Short Sales in Real Estate - How to Handle Real Estate Short Sales
There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale."
- Distressed Homes in Default
Not all homes that go into default go all the way through foreclosure. Many sell before the notice of default is finalized. Home buyers and investors are attracted to short sales and foreclosures because they want to buy a home for less than market value.
Site Map | E-Mail
Each Office Independently Owned and Operated
1891 North Mastick Way, Ste. A • Nogales, AZ 85621
RE/MAX ASSOCIATES INC. • Toll Free 1- 866-746-5814
Office (520) 281-4888 · Fax: (520) 761-3307
Mobile (520) 313-0352 · Email: ypalmer@remax.net
