Short Sale
Jul 24th, 2011 | By Axel Weiss, Bradenton Realtor | Category:A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property’s loan. It occurs when a borrower cannot pay the mortgage loan on a property, but the lender decides that selling the property at a loss is better than going through foreclosure proceedings.
In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt.
More From Bradenton Real Estate
- Vacation Home in West Bradenton, 2BR/2.5 BA or 1BR/1BA
- Short Sale tax rules to change in 2013
- West Bradenton Condo, Shorewalk, 2 BR, 2 BA
Bradenton Real Estate Recommends
- $129,900 :: 7201 E Camino Valle Verde, Tucson AZ, 85715 (Blass Homes – Tucson Real Estate for Sale)
- Why Banks Reject Short Sale Offers (Blass Homes – Tucson Real Estate for Sale)
Copyright © 2012 Mid Florida MLS. All rights reserved. Information deemed reliable but is not guaranteed. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Mid Florida MLS. Real estate listings held by brokerage firms other than Sea to Sky Realty are marked with the IDX logo and detailed information about them includes the name of the listing broker. Information provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information last updated on 5/23/12 8:33 PM PDT.