What is a short sale? How can I benefit from them?
A short sale is when the owner of a home under financial hardship negotiates with their mortgage company to sell their property for less than what is owed on it. Usually the mortgage company accepts the lesser amount for full satisfaction of the loan. They accept the lower amount is because it saves them time and money over going through the foreclosure process. The benefit of a short sale is that they offer a discounted price like a foreclosure listing. However, they don't have many of the negatives, such as a neglected property. Call us today 323-821-8323 so we can show you the value of a short sale.