What is a bank short sale?

Answer The Mortgage Bankers Association estimates an average 250,000 homes enter into foreclosure every three months; this is approximately one in every 200 homes. When faced with a looming foreclosure p... Read More »

Top Q&A For: What is a bank short sale

What happens to a judgement balance in a real estate short sale in New York state. If there is no equity in the sale will the judgement be released?

In any state, Judgements are usually filed with a court. In order for the Judgement to be released, someone -- preferably the party that filed the Judgement -- must be satisfied before the Judgemen... Read More »

What is a bank owned sale?

A bank-owned sale is the sale of property owned by a bank. The property may have been repossessed by the bank, like a house or car, or it may be property that was previously available for lease to ... Read More »

What is a short sale in houses?

The term "short sale" has become a new addition to the public's vocabulary due to the recent housing meltdown. Many people have been left "upside-down" on their mortgages, owing more than their hom... Read More »

What Is a Short Sale Negotiator?

Lenders sometimes allow borrowers to sell a home for less money than the borrower owes to the lender; such arrangements are called "short sales." Short sale negotiators are people who intercede wit... Read More »