How Does a Short Sale Effect Military Members?

Answer When real estate values drop, homeowners can be left owing more on their mortgages than the property can be sold for. For those who can afford their monthly mortgage payment, this situation isn't p... Read More »

Top Q&A For: How Does a Short Sale Effect Military Members

When did the short sale tax relief take effect?

The Mortgage Forgiveness Debt Relief Act of 2007, to help homeowners during the 2007 housing bubble, only removed the short sale deficiency tax for fiscal years 2007 through 2009, according to Nolo... Read More »

What does short sale mean?

Short sales are designed to help a borrower avoid foreclosure on a home. Short sales are one choice borrowers should consider if they owe more on their mortgage than the property is worth and they ... Read More »

Does a short sale affect credit?

The effects of a short sale on credit depend on how a lender reports the information to the bureaus. Lenders can report the short sale as a debt settlement, which lowers credit ratings. On the othe... Read More »

What does a short sale mean?

Short sale is a term used in real estate when a mortgage lender agrees to sell a house at a discount of the original mortgage price. The borrowing homeowner avoids foreclosure and all money from th... Read More »