What Are Short Sales?

Photo (cc) by International Real Estate Listings

The nation’s ongoing housing crisis has many would-be homeowners looking for the bargain of a lifetime. One way of buying cheap is foreclosures… another is with a short sale. But what is a short-sale and how does it work?

A short sale is potential solution for a homeowner that is in financial distress, that would allow them to sell their home for less than the balance of the mortgage.

Sounds almost too good to be true, but there is a catch… it’s much more difficult to do than you might expect. Dan Humbert, a Real Estate Attorney, helped us understand why the infomercials you might’ve seen can be misleading…

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

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