Raining Cats And Blogs: What Exactly Is A Short Sale Listing?

During your search for foreclosure listings, you may have heard the term ?short sale". A short sale transaction is an alternative to foreclosure without many of the same damaging affects. A short sale is an agreement in which your mortgage lender agrees to accept a payoff on the loan for less than the balance. Many lenders agree to a short sale because they receive more of the loan balance in comparison to the amount they would gain from selling the property following a foreclosure.

The benefit of a short sale is that it aids in maintaining home values in the community the property is located. A short sale is also not a typical real estate transaction and includes more than the usual players. Most real estate transactions involve the home seller and their real estate agent, the buyer and their lender, and their real estate agent. In a short sale situation, all of those parties in addition to the seller's loan servicer, any junior lien holders, mortgage investors and/or insurers may be involved too.

If you would like to know more about short sales and how to buy a bank-owned or real estate owned property, please feel free to call us or contact us at www.SheilaNewtonTeam.com! We?d be happy to help! If you are needing our services to help you sell your home as a short sale or need more info about short sales, visit us at www.SCForeclosureOptions.com

Source: http://rainingcatsandblogs-snt.com/post/3491987/what-exactly-is-a-short-sale-listing-

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