The Pros and Cons of Short Sale Authored by Geoff Vaughan in MortgagesPublished on 09-30-2009
Wednesday, September 30th, 2009 at 9:00 am
If you can no longer afford to pay your mortgage, and the bank is threatening to foreclose your home, you may want to consider a short sale. A short sale occurs when you sell your home for less than what you still owe on the mortgage, and are thus “short” what it would take to pay off the loan. In many cases, the lender will allow the homeowner to sell the house for this amount and will accept it to pay off the mortgage. Short sales have several pros and cons.One of the biggest pros of a short
Tagged with: Mortgage Bank • Pros And Cons • Pros Cons • Sell House • Short Sale • Short Sales
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