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Short Sales
A short sale is when the bank agrees to let you sell your home for less than what you owe on your mortgage. A bank does not have to agree to a short sale, but if it does, it’s a good option. A short sale is less damaging to your credit than a foreclosure, and it will get you out from under a mortgage you can’t afford.
Here are some interesting and useful tips towards deciding wether or not you may need to make a Short Sale:
Can a home seller sell a home for less than its mortgage?
How does someone sell a slow mover?
How does a home go into foreclosure?
When does foreclosure begin?
How long do bankruptcies and foreclosures stay on a credit report?
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