Real Estate News Short Sales - Short Sales for Buyers
Short Sales - Short Sales for Buyers
Wednesday, 07 April 2010 07:21 | 
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In a short sale, the seller arranges with their mortgage lender to accept a price that's less than the amount they owe on the property. As part of this arrangement, the lender typically agrees to forgive the rest of the loan. As a result, the seller doesn't have to go though a foreclosure, the buyer picks up a property at a discount, and the lender avoids taking on the burden of unloading the property. www.shortsales.mypbchomes.com
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