In real estate, a short sale is when a bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale - (Read more)

Information on how to avoid foreclosure. Questions and answers about the foreclosure process and what your options might be to try to keep your home from being repossessed. - (Read more)

Foreclosure listings from Foreclosure.com. We also provide pre-foreclosures, for sale by owner, bankruptcy homes and properties. We update our database daily with new properties - (Read more)

The fundamentals behind short sales in real estate, why lenders would accept real estate short sales, how to do short sales, and how they affect sellers. - (Read more)

Over 1 million properties – updated daily – including pre-foreclosure, Foreclosures Real Estate Foreclosure homes and REO Bank Foreclosure Home Listings For Sale by Owner (FSBO) at RealtyTrac - your Foreclosed Home Specialists! - (Read more)

Why Would a Lender Do a Short Sale?

There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale."

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