Sunday, June 21, 2009

Get a great deal on a short sale

Short sale- When a lender allows a seller to sell their home for less than is owed.

If you're in the market for a home today, you're almost guaranteed to be looking at some short sales. Nationwide, 14% of homeowners are currently underwater on their mortgages, calculates real estate website Zillow.com

Short sales are a great way to get a great deal on a house that just a few years ago, may have been out of your price range.  Although short sales are becoming more common in this market, there are a few difference that you should know that will help the process go as smooth as possible.  Full Story   By Joe Light, Money Magazine staff reporter



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