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What is a short sale?

Moscow, ID |

It sounds like it might be able to help me avoid foreclosure, but I'm not exactly sure what it is.


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Attorney answers 1


A short sale is when you sell your house for less than you owe on it. This can only be done with the lender agreeing to accept the reduced amount. If you have more than one mortgage on the property then this can be very complicated but still can be worth looking into. Good luck.

The author of this posting is licensed to practice law in the State of Connecticut. This posting is intended as general information only, and is not provided as legal advice in connection with any specific case, and does not create an attorney-client relationship.