Important Questions to Ask Before Starting the Short Sale of Your Home

Important Questions to Ask Before Starting the Short Sale of Your Home: "In today’s market, with home prices substantially lower than during the housing “boom”, you may find yourself in the position of having to sell your home, yet owing more to your lender than you can get for the house on the open market. One way of solving this problem – and avoiding foreclosure – is to sell your home in a “short sale”. With a short sale, you sell your home for whatever the current market will bear, and your lender agrees to accept the proceeds of that sale and release the lien on the home.

A short sale is not to be taken lightly, but it can present significant advantages. Before you pursue a short sale of your home, you should consider these important questions:"