Rocklin Short Sales: What is a Short Sale and How Does It Work?
By Mark Peek, Peek Real Estate Group - Roseville CA Real Estate
(Roseville Rocklin Real Estate - Keller Williams)
Rocklin CA – I am often asked, “What is a Short Sale and how does it work? Because short sales are a recent phenomenon people don’t really understand them. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. A short sale is when someone is selling their house, but the sale will not bring enough money to pay off their mortgage. Many sellers are experiencing this problem due to the recent drop in home prices. Here is why a lender will accept a short sale. If you can no longer afford your home, then the lender will have to sell it one way or another. They would rather have you sell it today versus selling it later after foreclosure. They have learned from experience that a short sale nets them more money. A foreclosure can take 12-18 m...
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