Short Sale FAQ's-Why Would My Lender Accept Less?

Short Sale FAQ's-Why would my lender accept less than what is owed on my mortgage? Lenders are in business to lend money, not to own real estate. They do not want the expense of the foreclosure process and/or the holding and maintaining of the property if it does not sell at foreclosure. The foreclosure process is very expensive and time consuming, so many lenders will agree to what seems a loss on the mortgage when they will actually save money by not completing the foreclosure and holding the property in their portfolio.

More Short Sale FAQ's (frequently asked questions).

Avoid Foreclosure-What Are your Choices? Sometimes walking away may be your only option. This may be the case especially if you feel you've exercised every option, including a loan modification. But before you walk away, make sure you know what your options are and how they will affect your credit. You may be able to Avoid Foreclosure and walk away with less of an impact on your credit than you think.

Get comprehensive information on how you can avoid foreclosure and how your options will affect your credit, including Short Selling your home and Alternatives to Short Sales.

Copyright © 2010 By Stephen Munson,Munson Realty Southern California Real Estate –Homes For Sale Pasadena ca*Avoid Foreclosure-What Are your Choices?*