Should I Buy a Short Sale?

Should I Buy a Short Sale? | Peter Roach

A “short sale” is a sale of real estate in which the proceeds from the sale will be “short” of the aggregate amount needed to pay, in full, the liens secured by the property being sold.

Typically, the property being sold is in foreclosure and the lender is willing to accept a lesser amount than the total amount owed—as full payment of its mortgage—in order to avoid the time and expense of completing the foreclosure.

Click here to read Peter Roach's full article...