The easiest short sale definition is that a short sale is a situation where your mortgage lender agrees to let you sell your house with the stipulation that, once the house is sold, your business agreement is fulfilled. In other words, you won’t have to pay a penny more on your mortgage and the lender won’t have to deal with the costs of a foreclosure and of maintaining and then selling your house later.
Follow this link: Looking For a Simple Short Sale Definition? Here It Is!Looking For a Simple Short Sale Definition? Here It Is!
Previous post: What to Do Before You Try a Home Short Sale
Next post: Do the Lenders See the Writing on the Wall?