When buying a short sale, the lender for the seller has agreed to accept a discounted payoff amount. Upon receiving this amount, the lender will then release the existing mortgage; however, the lender must first agree to these terms. Most believe before the seller can consider a short sale his loan must be in a default status; this is not true.
Another scenario can create... Read More
To answer any questions that you may be wondering from the onset of this blog, a mortgage short sale is where you sell your home to another qualified buyer, you do not keep your home. This process of a mortgage short sale is a process that allows the bank to avoid losing a lot less money than they would in a typical foreclosure and the process of allowing the borrower to... 
