by Moe Bedard
In a short sale the lender lets a homeowner unload a house for less than what is owed on the mortgage. The transaction recognizes that the home isn’t worth what the owner paid for it after more than two years of falling real estate values.
Such deals are appealing to struggling homeowners because they escape
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by Moe Bedard
One of the key problems with a short sale is making sure the buyer is an unrelated party; “an arm’s length transaction”.
I’m aware of a property being offered as a short sale in SoCal where the agent is the wife of the owner, and she has been, uh, unhelpful to some prospective buyers. I just [...]
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