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-   -   Short sale of homes (https://www.askmehelpdesk.com/showthread.php?t=152164)

  • Nov 14, 2007, 05:41 PM
    umad ahmad
    Short sale of homes
    What is Short Sale? And how can I learn the process involved. Thanks.
  • Nov 14, 2007, 08:34 PM
    Fr_Chuck
    You have a home you can't pay the loan on, you try to sell it but can't sell it for more money than you owe to the bank.

    So you get permission from the bank to sell it to someone for less than you owe on it.. You will then pay taxes on the difference from what is owed to what it sells for.

    It is totally up to your bank or loan company to approve or allow it, so between your real estate agent and your bank, there is nothing for you to learn.

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