The Short Sale That Got Away

 · How to Sell Your Property Before the Bank Takes It. It may be tempting to sell property being foreclosed on or repossessed, rather than allow them to be taken by the bank. However, your car and your home are typically secured assets,

A short sale is a real estate transaction where the owner’s lender agrees to accept a purchase offer from a new buyer, short of what is owed by the original owner. This could be great for you, the buyer, but it could take a long time to move into your home.

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Short sales are a mixed bag for the buyer, the seller and the lender. If you’re a seller, a short sale is likely to damage your credit – but not as badly as a foreclosure. You’ll also walk away.

A short sale in real estate is not always a pleasant transaction, but short sales have come a long way since 2006, so don’t sell the concept short. Our present economy does not mean that short sales have gone away.

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A short sale is really nothing more than a sale of your home for less than its. In true home short sales, sellers walk away with nothing, and aren't required or. The Bigger Pockets Blog: So You've Gotten a Short Sale Approval Letter.

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We got an email form the sellers agent, who is also our agent, that the buyer is trying to modify his loan and has asked the forclosure department of B of A to stop the short sale. This is a supper jumbo loan and our offer is the only one on the table right now.

 · The FHA Back To Work program is a mortgage loan program available via the FHA which reduces the waiting period to purchase a home after bankruptcy, foreclosure, or short sale.