A short sale is a real estate transaction in which the lending institution agrees to accept less than the full amount of the mortgage and still allows the transaction to close. In my experience, this is the least fun and most difficult way to buy and sell real estate. The bank has no motivation to do anything since any work that gets done on the file is just extra work. As most of us know in the industry, the banks are behind as it is with these sorts of things.
My advise: Don't hold your breath, and don't count on these sorts of transactions ever coming together. I also provide personalized advise tailored to your specific situation and questions. Just fill in the contact info and I will get back to you immediately. Usually within minutes.
The Reality: There are many of these happening everyday so sellers can avoid a painful foreclosure process. There are opportunities for the buyers out there who can wait 2-4 months for the transaction to close (if it ever does).
www.KeithMaki.com - A great place to start, find homes, get market trends, learn the value of your home.
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