Short Sales • What you need to know.

What is a Short Sale and why would I need to consider it in selling my home?

A "short sale" is a term used when selling your home for less than what is owed on the mortgage.  You are selling it "short" of what is owed.  Why would you ever want to do this? The primary use of a short sale is to save you and the bank from any further losses incurred if your property were to go into foreclosure.  If you can no longer afford your home and are already behind on your payments, eventually the bank will be forced to foreclose on your property. 

The question asked by most sellers in this situation is:

Why would I sell my home for less than what is owed?  I won't make any money that way.

Continue to "Short Sale" answers.

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Janina Kinler-Bellew
Kinler Bellew Team
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