Published: by Gilles Debie |
permalink Modern homebuyers will inevitably come across one or more properties currently classified as a short sale. A short sale is an attempt by the current owner to sell a home in lieu of the bank taking it back through foreclosure proceedings, thus partially salvaging their credit rating and lifting the burden of heavy mortgage debt. The entire short sale process hinges on the hope that the bank will take a loss now, appro...
Tags: foreclosure, short sale, mortgage, escrow, IRS, tips, rent, selling a home, real estate,