Short Sale Information

How Does a Short Sale Get Approved?

There’s a lot of mystery involved in the short sale process. First, a short sale is when a lender allows a borrower to sell their home for less than the amount owed on a mortgage. A short sale is sought by borrowers who want to get rid of a mortgage obligation without harming their credit with the impact that a foreclosure would have. The first step in the short sale process is to list the home for sale with a Realtor experienced in short sales. The Realtor will be able to conduct a Comparative Market Analysis (CMA) to determine the … Continue reading »