Foreclosure Alternative: The Short Sale

In these tough economic times homeowners have a lot of tough decisions to make when it comes to selling.  A short sale is a valid option for many.  This article from HouseLogic.com has some great information regarding short sales.

Facing foreclosure and tempted to stay in your home until the bank pulls it out from under you? Bad idea. Don’t do it. A much more graceful exit is a short sale, an agreement between you and your lender to sell your home for less than you owe. Although there’s no guarantee that your lender will let you avoid foreclosure with a short sale, new government regulations are aimed at encouraging lenders to do so.

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