What Is A Short Sale?

 

Pre-foreclosure sale. This is also called a "Short Sale" and will allow you to sell your property and pay off your mortgage loan to avoid foreclosure and damage to your credit rating. You may qualify if:

  • your bank is willing to work with you. (The MDRE Pros Professional Realtor can make this call for you)
  • the loan is at least 2 months delinquent prior to the pre-foreclosure sale closing date; and
  • you are able to sell your house within 3 to 5 months (depending on what your mortgage company agrees to).

An additional benefit to this option is the assistance you will receive with the Seller-paid closing costs.

What Is A Short Sale Required
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