What Is A Short Sale?
I have written multiple articles on short sales over the past couple of years. However, I have never written one with an answer to basic question that many people are still asking….
“What Is A Short Sale?”
Please forgive my delay. We can now testify that assumption is foolish… For that reason, I will keep this very simple.
A short sale is simply when a bank agrees to accept less than the balanced owed on a loan. Hence, they are accepting it “short” of what is owed. If you want a more technical definition here you go .
Now that you know this, the questions arise like the consequences of a short sale. Or, what the benefits of a short sale are over a foreclosure or bankruptcy. Lucky for you, I have many of these questions answered in the following articles. Feel free to pass along any questions you may have.
Possible Consequences Of A Short Sale
4 Terms You Must Know As A Buyer
4 Sacred Short Sale Tips
flickr credit- aymlis
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