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: McLeod Law OfficesAre Short Sales Just Silly?
By Bill McLeod, Esq.
It?s a question I have been asking myself of late. A Short Sale is when a lender (the mortgagee) agrees to release the mortgage from the property so that it may be sold to a buyer for less than when is owed on the mortgage. I am hearing that many people are exploring short sales as a means of ?avoiding foreclosure.? But there are many variables that will make a short sale successful, and unless all of those variables are working in the homeowners favor, the short sale is not a good idea.
Full post as published by McLeod Law Offices on August 15, 2008 (boomark / email).
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