How to Short Sale to Avoid Foreclosure – Redding CA.
Banks and other lending institutions are continuing to make strides in helping homeowners who want to sale their home inorder to avoid the sting of foreclosure.
For many years now homeowners have been turning to this foreclosure solution.
What is a short sale?
A short sale is when the lender on the property i.e. Bank of America, Chase, Wells Fargo, etc. agree to accept a purchase price from a new buyer that is smaller than the amount the current homeowner owes on the mortgage.
Another reason why short sales may become even more popular…
If the mortgage interest deduction is eliminated by the the US Congress because of the fiscal cliff issues, it would give many more underwater homeowners and other distressed property owners one more reason NOT to hang on to their homes.
Short Sales are a common and much needed real estate transaction in this US economy.
Want to learn about your options?