Is A Short Sale Bad

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No, by no means is buying a short sale bad. The most important thing is to have a Buyer Agent who is very familiar with short sales and the short sale process. It is also important that the Listing Agent be familiar with the process. The other thing you need is patience. If you need to settle in 30 days, a short sale is not for you.

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10 Benefits of Short Sale over Foreclosure | HowStuffWorks – A short sale doesn’t absolve the borrower from the debt he or she incurred with the original mortgage, but it can be better than a full-on foreclosure.. Let’s take a look at 10 reasons why a short sale may present a better option than letting your home slide into the long, draining process of foreclosure.

When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales.

Short Sale – Foreclosure | – A short sale transaction occurs when the mortgage holder (lender) and the property owner (buyer) agree that selling the property and absorbing the marginal loss is preferable than a default and subsequent foreclosure. A real estate short sale may only be accomplished by mutual consent of the lender and borrower.

Is A Short Sale Bad | Conventionalloanratestoday – 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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