Though they are not necessarily an ideal situation for sellers to find themselves in, short sales can be beneficial to financially distressed sellers looking to avoid foreclosure. What are the benefits of a short sale for sellers? Seller can avoid foreclosure. A short sale is one of the last options that a seller has before […]
In a short sale, a financially distressed homeowner sells their home for less than the amount owed on the mortgage and all the proceeds go to the lender. Though it is often a more complicated and lengthy process, there are both benefits and drawbacks to purchasing a home through a short sale. What are the […]
Short sale vs. Foreclosure: What’s the Difference? Though both short sales and foreclosures provide financial relief to homeowners who are unable to make their mortgage payments, they are two entirely different processes that result in significantly different consequences for the homeowner. Initiated by the lender, rather than the borrower, a foreclosure is the lender’s last […]
A short sale is when a financially distressed homeowner sells their home for less than the amount that they owe on the mortgage. In this case, all the proceeds from the sale go directly to the lender, and they either (1) forgive the remaining balance or (2) get a deficiency judgment, which requires the homeowner […]
