If youve talked to any real estate agents recently youve probably heard about the increase in short sales taking place surprisingly there are people who short sale their home and are able to buy another home soon after. A short sale is a sale of a property where the proceeds of the sale are less than the balance owed on the mortgage covering the property a short sale might be right for many people but is it the best option for you consider the following before deciding on a short sale of your home. My husband and i would like to sell our home and get something bigger for our expanding family we currently have a piggyback mortgage 8 15 5 with a 5 year arm. More than half of my sales in sacramento from 2006 to 2012 had been short sales thats how prominent short sales were for a number of years today though not so much. Option 1 a mortgage modification rondas first move should be to contact her lender to discuss the situation and review every option she may be eligible for a no fee mortgage modification to reduce the interest rate and monthly payment
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