Homeowners who are in a pickle concerning making monthly mortgage payments may discover themselves facing the tragic consequences of bankruptcy or foreclosure. However, there is another option known as a short sale that West Terrace homeowners can consider, but the process is complex, and there are numerous requirements to even qualify for one.
First and foremost, the home must currently have a market value below what is owed on it, which is known amid the industry as being ‘underwater.' That being said, lets move on to what a short sale is and the steps sellers should take to successfully navigate the process.
For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate
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