Real Estate News Blog California April Archive

For Distressed Homeowners, Short Sales Stave Off Credit Ruin

By Art C. Ryder at 04/06/07 20:19

Discusses short sales, selling a property for a loss rather than a profit, as a way for troubled homeowners to avoid foreclosure and ruining their future ability to buy a home. Short sales can be difficult to orchestrate to avoid foreclosure because buyers, sellers and lenders must agree on the sale price and determine who pays takes and how much is written off. People looking at the prospects of losing their home to forclosure due to upward adjusting interest rates would do well to look into short selling.

Original source: . For Distressed Homeowners, Short Sales Stave Off Credit Ruin