Specializing in Canyon Country CA Short Sales, Castaic CA Short Sales, Palmdale CA Short Sales, Saugus CA Short Sales, Lancaster CA Short Sales, Questions? Call your Short Sales Experts at 661-284-7704

What are Short Sales?

In real estate, a short sale is when a bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor. A short sale typically is executed to prevent a home foreclosure. Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. A short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount.