What is a Short Sale?  In a short sale, the lender allows the property to be sold for less than the total amount due on the loan. In many cases, the lender forgives the remaining debt.  More and more lenders are willing to make accommodations to avoid taking the property back. Typically, a short sale is conducted to prevent a bank from having to foreclose on a home. Banks do not want to take over homes, especially in a declining market and, although the lender may ultimately collect less than the amount owed on the mortgage, they will save money by not having to pay attorney's fees, go through an eviction process, make repairs to the home so it is marketable, or have the expense of keeping real estate in inventory.

Give me a call if you have questions, or need my help!

Sincerely,

Jill Fitzgerald - Realtor
Realty Exchange
800 Belle Terre Parkway
Palm Coast, FL 32164
386-793-5090