FAQ

Q: What is a short sale?
A: A short sale is the sale of a house in which the sales price is less than what the owner still owes on the mortgage

 

Q: What is a foreclosure?
A: Foreclosure is the legal and professional proceeding in which a mortgagee, or other lienholder, usually a lender, obtains a court ordered termination of a mortgagor's equitable right of redemption

 

Q: What will the lender require of you to agree to a short sale?

A: Understand that the lender will not agree to a short sale for frivolous reasons.  You must have incurred some type of "hardship" in order to qualify.