what Is A Short Sale
Put simply, it is the sale of the home in which the amount owed to the lender(s) is more than the amount that the home can be sold for. Instead of the home owner having to bring in money or pay out of pocket to complete the sale, the sale of the home is completed through negotiation with the existing lender(s) in which the lender(s) agree(s) to accept less than the full amount owed to satisfy the debt and allow it to be “paid off,” short.