July 28, 2010
A short sale is an option to help homeowners who are behind on their payments, and no longer able to maintain the home, due to a hardship avoid foreclosure. In the short sale process, the homeowner sells the home and settles the debt with the mortgage holder for less than the total amount owed.
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December 3, 2009
Many people wait until they are very close to the end of the foreclosure process before they learn how to negotiate a short sale. If at all possible, you should not wait this long. The short sale process is not an over night thing with mortgage companies. The more time you have on your side, the better. As soon as you spot trouble with your mortgage that you will not be able to get out of, you need to take action. Even though the thought of leaving your home may be upsetting, it is better to sell the home than to be forced out because of a foreclosure.
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