A Short Sale occurs when a home is sold and the sale proceeds don’t fully pay off the loan(s) on the property. The lender agrees to release the lien on the home, and accepts the less amount owed on the debt; releasing the property allowing it to close escrow. In addition, a short sale can be done when the property owner cannot afford, or chooses not to repay the lien or liens full amounts. Contrary to popular belief, it’s not difficult to qualify for a short sale.
- Who is eligible?
- I have two loans, will I still qualify for a short sale?
- Why would the bank agree to a short sale?
- How much will a short sale cost me?
- How long will the short sale process take?
- When is it too late to list a short sale?
Use our quick and easy site to get an instant value for your home! For a more accurate value, or to talk about getting your home on the market, give us a call at 916-405-5737 today!