Short Sale vs Foreclosure – 10 Common Myths Busted

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It’s likely you’ve heard the term “short sale” thrown around quite a bit. But what, exactly, is a short sale?

 

A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is not a new practice; banks have been doing short sales for years. Only recently, due to the current state of the housing market and economy, has this process become a part of the public consciousness. Read on…
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Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog for information on short sales & foreclosure myths. See more on short sales & foreclosures or search for short sales & foreclosures in Wisconsin at firstweber.com

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