What is a Short Sale?
A short sale is a real estate transaction in which the sales price is insufficient to pay the debt(s) and obligations encumbering the property along with the costs of sale, AND the seller is unable to pay the difference. Every short sale is dependent upon the seller's lender(s) consenting to the transaction and agreeing to release the property as their security interest in exchange for less than what is owed.
Recent economic challenges have resulted in many homeowners needing to sell their home but owning more than their home is worth. If this sounds like a situation you may be in, contact me to get a conversation started, answer your questions and point your in the right direction to to get legal, financial and tax advise specifically for your personal circumstances.
I'm a buyer. If I want to purchase a home that is a short sale, how will that effect my transaction?
Other helpful links:
Our preferred Short Sale Negotiator - McFerran, Burns & Stovall, P.S. - www.mbs-shortsales.com
Fannie Mae fraud information
Northwest Justice Project
Mortgage Foregiveness Debt Relief Act and Debt Cancellation Tax Information
Home Affordable Foreclosure Alternative (HAFA) Program
Our preferred Short Sale Negotiator - McFerran, Burns & Stovall, P.S. - www.mbs-shortsales.com
Fannie Mae fraud information
Northwest Justice Project
Mortgage Foregiveness Debt Relief Act and Debt Cancellation Tax Information
Home Affordable Foreclosure Alternative (HAFA) Program
