Qualifying for Short Sales Can Be Complicated

Without even understanding what a short sale is, some home sellers want to hop on that bandwagon because they've heard the phrase. They think it might be a solution to their dilemma or produce a fast sale. But not everybody qualifies for a short sale, and not every home is a candidate for a short sale.

Short sales are not the chicken-soup cure for homes that aren't selling. I see some listings advertising short sale terms and when I talk to the listing agent, it turns out the agent hasn't even talked to the seller's bank. Banks use certain sets of criteria to determine if a short sale is worth considering, and it starts with whether the seller qualifies. Banks want to know . . . read more about short sale qualifications.

More Articles by Elizabeth Weintraub, click below:

• Doing a Short Sale
  
• Before Buying a Short Sale
  
• Short Sale Impact on Credit Reports

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