In this video, I cover the overall short sale process and outline what to expect when working together with our team. You can get more information about Short Sales and our team at http://www.sdshortsaleexperts.com.
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Explanation of the results received from your Break Even Analysis. The Short Sale calculator is located at http://calculator.sdshortsaleexperts.com & http://www.123short.com
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I think a short sale is when you still have control of your property and are only a couple months late in paying your mortgage? If I enter into a short sale, how long does the process take and what time will I have to vacate the place? I’m underwater in my house. I’m also unemployed. Thx.
A short sale can occur when the owner of the house wishes to sell it, but the value of the house exceeds the mortgage. In a Short Sale situation, the bank continues to foreclose (if necessary) and the seller hopes to find a buyer before the foreclosure process completes. If a buyer is found, and if the buyer’s offer is accepted by the bank, then the process takes between 30 and 60 days (just like a normal sale).
The problem is that the bank rarely approves a short sale quickly. Also, the bank may change its mind right up to the last day before closing.
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Learn about Short Sales in this personal finance terms video tutorial.
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