What Is a Short Sale? Which Is Best For Me?
In real estate, a short sale occurs when a homeowner sells their property for less thanthe outstanding mortgage balance. This is usually done to avoid foreclosure, which canbe detrimental to both the homeowner and the lender. While short sales can be a viableoption for homeowners in financial distre
How Sellers Benefit From Short Sales
Here are a few of the benefits of a short sale for distressed home sellers, and why they might want to consider it over foreclosure: A short sale does way less damage to a homeowner’s credit report and credit score than a foreclosure. This means the homeowner will be in better shape to apply for a
Foreclosure vs. short sale: What’s the difference?
While selling a home as a short sale is hardly ideal, many experts argue it’s smarter than pursuing more drastic measures like foreclosure. Foreclosure is when a homeowner falls so behind on the mortgage payments, the lender repossesses the house, often against the homeowner’s will, then tries to se
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