What is a Short Sale? 

 

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

 

But to be technical, here's a more official definition:
A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

 

For more information about your options, call Delmarva Home Relief and tell them Darlene sent you.

 

 

                I can help you through

                the short sale process. 

 

 

What is Foreclosure?

Arm's Length Transaction Explained...

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Is your home under water? Don't wait any longer!

Contact Darlene Wheatley, Realtor

 

dwheatleyrealtor@gmail.com 

 

Tel: 410-829-6533 DIRECT

Benson & Mangold Real Estate

 

24 N. Washington St.

Easton, MD 21601 

Office 410-770-9255

Direct 410-829-6533

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