Short Sale Homes Meaning

In real estate what does the term short sale mean – answers.com – In real estate a short sale is a situation where a home owner is selling a home for less money than what is still owed on the mortgage. Often such sales need approval from the bank before than can.

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As a buyer, you may evaluate short sales as opportunities to acquire real estate on the cheap. Conversely, as a distressed homeowner, you may turn to a short sale for foreclosure relief. Beyond this.

Short sale example. Hansel lost his job and has fallen on hard times. He takes a look at his budget and realizes he won’t be able to make any mortgage payments for the foreseeable future.

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10 Benefits of Short Sale over Foreclosure | HowStuffWorks – A short sale is a transaction in which the bank lets the delinquent homeowner sell the home for less than what’s owed. The borrower finds an agent and puts the house on the market, often at a substantial discount. The hope is that, if the home sells, the lender will recoup the majority of what the homeowner owes.

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Can Executors Do a Short Sale of a Home? | Finance – Zacks – A short sale occurs when a lender chooses to accept less than the value of the mortgage on the property to convey clear title to a buyer. These are commonly used with an upside-down homeowner to help them get out of a house that they cannot afford. A short sale may work with an estate to settle a mortgage as well, with some conditions.

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Short Sale: A term that describes the sale of a property for an amount less than the unpaid mortgage.This happens when a borrower cannot afford to keep making mortgage payments and cannot pay the difference between the sale price and the unpaid mortgage.

What Is a Short Sale? The Long and Short Of It | realtor.com – 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.