A short sale is an alternative to a foreclosure. The seller will sell a home for less than what is owed by a lienholder. Seller is then responsible for the remaining balance called a deficiency. A short sale does have a negative impact on a credit score. Sometimes an owner can pay the negative balance, but most people opt to pay the deficiency in payments. I would not recommend a short sale, but many people take this option to prevent a foreclosure which may have a much higher impact on a credit score.
by websclubs7 years ago
What’ the best way to invest in real estate?
by Julie Grimes6 years ago
What's a short sale, and how does it differ from a foreclosure?
by LVHighRise7 years ago
What do you think, is it easier to work with a short sale or a foreclosure?
by beachbumrealty5 years ago
If you will be asked, will you consider a short sale?I have this friend who is distressed because of his mortgage debts. His attorney told him to offer his property for less than its market value. Please help, I want to...
by Kelly Kline Burnett7 years ago
I think the next 3 months will be the best time ever to purchase a home. Your thoughts?One agent felt that there would be another dip.I asked this question the other night and an established owner of a plumbing...
by slimm5285 years ago
While in the process of a short sale do you continue to pay HOA fees?
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