Short Sales Tips for Distressed Homeowners

Short Sales Tips for Distressed Homeowners

Short Sales Tips for Distressed Homeowners
Real Estate News From CoStar Group

Many homeowners owe more on their mortgage than what their house is worth. This creates a stressful situation in which homeowners can no longer sell their home or refinance their mortgage. One solution that is common in a declining real estate market is a short sale. In a short sale the lender agrees to accept less money than what is owed. This is usually done because to a lender a short sale is significantly less costly when compared to the legal expenses of foreclosing on a home.
Source: Real-Estate:Foreclosures Articles from EzineArticles.com