A "Short Take" on "Short Sales"

When real estate values decline, a number of homeowners find that their mortgage is greater than the value of the property and the owner is said to be fianancially "upside down". If the property is sold at a loss, the owner is still responsible for repyaing the entire mortgage. Sometime owners do not have enough cash to re-pay the loan and so they try to work out a deal with the lender to pay less than is owed, thus a "short sale"

If you have questions regarding this form of sale, please give me a call,

Marina at 801-649-5883