When you owe more on your home than it’s worth you may want to do a short sale. In a short sale the bank forgives some of what you owe them. It’s more cost-effective for a bank to do a short sale than foreclose on a home.
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{ 4 comments… read them below or add one }
Anonymous 06.01.09 at 11:12 am
Thanks so much for the compliment, @REAHoldingsGroup1. Ilyce
Anonymous 06.01.09 at 11:12 am
Great video! Very informative. Keep up the great work in helping people in their stressful situations!
Anonymous 06.01.09 at 11:12 am
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Anonymous 06.01.09 at 11:12 am
I wish they would have used a better term than “short sale”. In the finance world “short” means that you sell something you don’t own, then buy it back (hopefully at a lower price) when you have to give it back. We short stocks all the time.