A "short sale" is a negotiated realty transaction such that anticipated proceeds from sale are insufficient to satisfy liens/encumbrances/costs of sale for a proposed transaction. The lienholders (usually mortgagees) agree to accept less than they are contractually due to facilitate the preforeclosure sale.
This Forum discusses techniques and strategies used to convince the mortgagee(s) that accepting less than they are due is in their best, financial interest. Some people think that that a shotgun, cookie cutter approach works best. I don't.
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In a nutshell...
A "short sale" is a negotiated realty transaction such that anticipated proceeds from sale are insufficient to satisfy liens/encumbrances/costs of sale for a proposed transaction. The lienholders (usually mortgagees) agree to accept less than they are contractually due to facilitate the preforeclosure sale.
This Forum discusses techniques and strategies used to convince the mortgagee(s) that accepting less than they are due is in their best, financial interest. Some people think that that a shotgun, cookie cutter approach works best. I don't.