Short Sales

 

Not all homes that go into default go all the way through foreclosure. Many sell before the notice of default is finalized. Home buyers and investors are attracted to short sales and foreclosures because they want to buy a home for less than market value. Sometimes sellers in default and buyers who want a short sale or foreclosure can see eye-to-eye and enter into a profitable transaction for both parties. But it's not for the faint of heart. Distressed home sales are often complicated and sellers have rights when in foreclosure. Both sellers and buyers should seek legal advice before entering into such a contract.

 

Click here to view the Shortsale Escrow Process

The Mortgage Forgiveness Debt Relief Act and Debt Cancellation

 

 

 

 

© Copyright 2010 by Richard Merk. All rights reserved.