Is A Short Sale Bad

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Short Sales: The Good, the Bad, and the Ugly – CREOnline – A short sale is a property sale where the proceeds from the sale do not meet the payoff of the existing mortgages, hence the name "short sale." A mortgage lender may approve a short sale assuming the borrower has a legitimate hardship and owes more then the house is worth.

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A short sale is a sale of real estate in which the net proceeds from selling the property will fall short of the debts secured by liens against the property. In this case, if all lien holders agree to accept less than the amount owed on the debt, a sale of the property can be accomplished.

Short sale is usually a bad idea . If you are having trouble making your mortgage payments on time, or if your house is worth less than the mortgages against it, then you know that you can’t sell or refinance the house.

If you found a good short sale property go ahead and put your offer in. In the meantime keep on looking for other houses. In my state a short sale is contingent upon bank approval and they always let you walk away until the bank signs off.

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How soon can you buy a home after a short sale? That depends on the circumstances of the sale and the mortgage program you choose.

Hi Richard: A short sale is certainly an option, but if the house is still in decent condition, you might just want to put it on the market. All real estate markets are different, but in much of the country, prices are still on the rise.

Key Points About Regulation SHO I. Short Sales A. What is a short sale? A short sale is generally the sale of a stock you do not own (or that you will borrow for delivery). Short sellers believe the price of the stock will fall, or are seeking to hedge against potential price volatility in securities that they own.