First of all, a Short Sale is anything but short, fast, or quick, despite the name. A Short Sale by definition is where the seller is selling the home, and is "short" on the money needed to pay off the mortgage in full, hence the name "short" sale. Well, that's all find and dandy, but […]

Traditional Seller A traditional seller is a home that is owned by a person (or people) that are trying to sell their home. This is the typical seller, such as John and Jane Doe on Main Street. When making an offer to a traditional seller, the response time is usually within a few hours, and […]

I have written previous articles defining short sales and foreclosures.  I will now compare the consequences to a homeowner of a foreclosure versus those of a successful short sale.

These days, in real estate, the term short sales is frequently heard.   What is a short sale, you may wonder.  Well, let me explain it to you by giving you an example.  Let's say you bought a house two years ago with a mortgage of $200,000.  Let's say you've paid off $5,000 of the […]