What is a Short Sale?

People as me all the time, what is a short sale.  A short sale is when a property owner owes more on their mortgage than their home is worth.  Example; let's say you owe $100,000.00 on your current mortgage.   The market value of your home is $75,000.00.  You are $25,000.00 short in equity to sell your home.  Although you may sell your home as a short sale.  Before you do consult your REALTOR, attorney and mortgage company for guidance. 

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Colleen Clavesilla

Colleen Clavesilla

REALTOR, SRES, ABR, CRS, GRI, MSR, SFR
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