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A real estate short sale takes place when a property owner has serious financial challenges and sells his or her home for less than the mortgage amount owed to the lender or the bank. <\/b><\/p>
Once the property is sold in this type of sale all the proceeds go to the lender or the bank that holds the mortgage and the remaining amount could be either forgiven or could file for deficiency judgment by the bank or the lender.<\/b><\/p>\n
While this may seem less than a complete solution for lenders, it still might be a better option than foreclosure, especially if the different loan amount is forgiven by the lender. <\/b><\/p>
Buyers often take advantage of these offers because these sales are a way for homeowners and lenders to get out of financial trouble by losing money. <\/b><\/p>
However, buyers should be aware that these types of investments may not always make sense.<\/b><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t