When you need solutions call: 571-251-4311
When you need solutions call: 571-251-4311
When you need solutions call: 571-251-4311
A short sale in real estate is when a homeowner in financial distress sells their property for less than the total amount owed on the mortgage, with the lender's approval. It serves as an alternative to foreclosure. Not only has the real estate market been volatile but many folks cannot afford payments due to job loss, medical issues, death or divorce. I have worked with banks in the past providing this as a solution for homeowners especially when their loan amount is higher than the property value. The short sale will stay on your credit report for 7 years, but it may be your best alternative.
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