The Real Estate Short Sale Process

**johns.spells** · 10-29-2010, 12:45 AM

The short sale process can be a daunting experience for many homes sellers. Not only are many faced with making a difficult decision. Many times this decision is reached after the homeowner is in default on mortgage payments but it's not necessary to be in default. Better yet if the seller is current. The lender will verify value of the home by doing BPO's and possibly full appraisals, depending on the lender and the position they're in. If there are seconds or thirds, written agreements have to be secured from the other lenders, agreeing to the settlement amount being offered, if any, by the first lien holder.

**ansonarin** · 10-30-2010, 12:03 PM

Short selling is the sale of land, when the return is not always the balance of the loans. Often, when the debtor fails to pay the mortgage assets, but the creditor decides to sell the property to moderate weight loss is better than the borrower. If both parties agree to sell the process because it helps them avoid foreclosure, which results in high costs and the quality of bank credit poorest borrowers...

**francinebourne** · 11-02-2010, 12:56 AM

This is big help for me since i am experiencing short sale now a days.

**caresedan** · 11-02-2010, 04:06 AM

i also want to know that statement please share with me!!!!!!!

caresedan

**Temecula property manager** · 11-02-2010, 05:27 PM

anyone who has property that is non owner occupied may have a tax consequence from the short sale. irs sees debt relief as income.

**Fear john** · 11-03-2010, 09:42 AM

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**Ethenwoo** · 11-03-2010, 10:56 PM

Many people does not even know about short sale process & this should be clear to all as its is important to know.

short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower.

**jhonmartin** · 11-15-2010, 02:49 AM

I am student I learned a lot of your post. Have you more information about short sales ?
Also explain the point "Short selling is the sale of land" ?????

**clive123** · 01-05-2011, 01:55 AM

Once a property goes into foreclosure the lender passes along the file they have on the property over to their loss alleviation section.

**Yballe55** · 01-10-2011, 09:56 PM

When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose. Moreover, not all sellers nor all properties qualify for short sales.