Short Sales

What is a Short Sale?

When a borrower owes more on a property than the current market value, negotiation is entered in to with the homeowners’ mortgage holder, to accept less than the full balance at closing.

 There are qualifying reasons for a short sale.

  1. Loss of employment
  2. Reduced income
  3. Business failure
  4. Damage to property
  5. Death of a spouse or wage-earner
  6. Death of a family member
  7. Severe illness
  8. Inheritance of debt
  9. Divorce
  10. Relocation
  11. Military service
  12. Payment increase or mortgage adjustment
  13. Insurance or tax increase
  14. Separation
  15. Too much debt
  16. Incarceration