What is a short sale approval?

Answer Short sales are an alternative to foreclosure for homeowners who owe more on their house than it's worth at fair market value. The mortgagor, or bank, has the opportunity to agree to a short pay-of... Read More »

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

What is short sale approval?

A short sale is a real estate transaction where the seller accepts an offer to purchase for an amount less than she owes on her mortgage. The seller's mortgage lender must agree to accept the purch... Read More »

What is a short sale with a third party approval?

A short sale with third party approval is an arrangement by which a party undergoing economic hardship can get excused from a loan by selling the property in question for less than it is worth in o... Read More »

How Long After Approval Does a Short Sale Close?

A short sale is one alternative to a foreclosure. It occurs when the property owner lists real estate for less than the amount needed to pay off all the loans on the property. The sale price is "sh... Read More »

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 »