Answer: A short sale is a situation where a distressed seller needs to sell their house for a lower amount than the mortgage balance. You can Avoid Foreclosure with a Short Sale! A short sale is preferable for the mortgage holders who financially, must liquidate their claim in the property and who will not qualify for other loan modification options. it much better to Avoid Foreclosure with a Short Sale than to have your home be foreclosed on. Quite Simply, a short sale is when the value of the property has dropped below the current principle balance owed.
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