Recently, the phrase Short Sales has become popular in America. A Short Sale is where a homeowner sells his home at a price which is lower than what he bought the home for or what he owes on the mortgage. The lender agrees to take a Short Pay-off, a loss, and may or may not forgive the homeowner for the difference.
June 26th, 2009
Short Sale
What’s a Short Sale?
Recently, the phrase Short Sales has become popular in America. A Short Sale is where a homeowner sells his home at a price which is lower than what he bought the home for or what he owes on the mortgage. The lender agrees to take a Short Pay-off, a loss, and may or may not forgive the homeowner for the difference.
