Foreclosures and Short Sales

Foreclosures and short sales can be very tricky and changing quickly as to the rules that the lenders follow. 

What is a Short Sale? 

A short sale is a transaction where the net proceeds from the sale of a property are not enough to cover the seller's mortgage obligations and closing costs, such as property taxes, transfer taxes and the real estate practitioner's commission. The bank holding the mortgage has to agree to the home being listed as a short sale and any offers have to be accepeted by them.

We have collected a few articles that can help you understand the short sale and foreclosure market.  Please contact us for additional information.

Seven legal pitfalls of a Short Sale.

Short-sale incentive program.

National Association of Realtors Forclosure and Short Sale Information.

Financial Incentives and process for Short Sales.

The forclosure and short sale market is constantly changing. Give us a call and we can supply the latest government incentive information as well as currently listed short sale properties.

800-838-5701