Do You Want to Stop a Foreclosure? Short Sale May Be the Solution!

http://bit.ly/zDGikF This short video explains a bank short sale in very easy and simple terms. It explains the short sale process, how to short sale, discusses what is a short sale, discusses foreclosures, why a bank would short sale mortgage, how much it costs the homeowner to do a short sale. Short sale is an option for homeowners who are under water, cannot pay high mortgage payments due to some hardship and their mortgage payments are upside down. Homeowners can stop foreclosure by doing a short sale. In a short sale, bank agrees to accept a reduced amount, lower than the mortgage balance. Property value is reduced and you sell your house for an amount that is lower than the mortgage balance; bank accepts that lower amount as full payment of debt. Usually there is no cost to homeowner for doing a short sale.

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