November 30, 2009: Changes Coming to the Short Sale Process 4/5/2010. Seller's, Agents, Buyers Benefit! Learn More |
Short Sale / Pre-Foreclosure Info for Sellers
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According to the North Carolina Association of Realtors®, a short sale occurs when the purchase price is or may be insufficient to enable seller to pay the costs of sale, which include but are not limited to the Seller(s) closing costs and payment in full of all loans or debts secured by deeds of trust on the Property due and owing to one or more lender(s) and/or other lienholders. The seller also does not have sufficient liquid assets to pay any deficiencies. The lienholders agree to release or discharge their liens upon payment of an amount less than the amount owed, with or without the Seller being released from any further liability.
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Topics
What is a Short SaleQualifications for a Short SaleThe Short Sale ProcessCost of a Short SaleTimeline of a Short SaleTax Implications of a Short SaleCredit Implications of a Short SaleHandling Multiple Liens on a HomePromissory NotesDocuments for SellersActive-Duty Military: Avoid Foreclosure through the Soldiers and Sailors ActForeclosure Prevention ScamsBlog Posts on Short Sales
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