Opt for Short Sale
Sunday, December 23rd, 2007
If you are adamant that you want to stop foreclosure, here is what I am sure you should do. Go on and ask the bank if they will be fine with a short sale. A short sale is when the bank accepts from you an amount that may be quite less than what is owed to them. Let me elucidate this with a simple example. Let’s say you owe $300,000 dollars but it is possible that the bank may accept $290,000 dollars which means the amount is less but still you manage to stop foreclosure. Good idea, right?
