{"id":283,"date":"2024-06-27T13:03:14","date_gmt":"2024-06-27T13:03:14","guid":{"rendered":"http:\/\/fastforwardstories.com\/?p=701"},"modified":"2024-06-27T13:03:14","modified_gmt":"2024-06-27T13:03:14","slug":"what-is-a-short-sale","status":"publish","type":"post","link":"https:\/\/cloud.titletapsites.com\/widman-immigrationlaw\/2024\/06\/27\/what-is-a-short-sale\/","title":{"rendered":"What Is A Short Sale?"},"content":{"rendered":"<p><script src=\"https:\/\/fast.wistia.com\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 0 0;position:relative;\">\n<div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\">\n<div class=\"wistia_embed wistia_async_yxhf24po1c dnt=1 videoFoam=true\" style=\"height:100%;position:relative;width:100%\">\n<div class=\"wistia_swatch\" style=\"height:100%;left:0;opacity:0;overflow:hidden;position:absolute;top:0;transition:opacity 200ms;width:100%;\"><img decoding=\"async\" src=\"https:\/\/fast.wistia.com\/embed\/medias\/yxhf24po1c\/swatch\" style=\"filter:blur(5px);height:100%;object-fit:contain;width:100%;\" alt=\"\" aria-hidden=\"true\" onload=\"this.parentNode.style.opacity=1;\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>\nWhen a lender releases an existing mortgage for a payoff that is less or &#8216;short&#8217; of the total amount due, the transaction is called a &#8216;short sale.&#8217;  Lenders sometimes accept short sales as an alternative to repossession and foreclosure, which can be expensive.  Likewise, a short sale avoids foreclosure and credit-rating reductions for the seller.   Short sales may be prompted by a seller&#8217;s inability to make payments, or the property value dropping below the mortgage balance &#8211; &#8216;underwater&#8217; &#8211; or possibly both. Short sales are usually initiated by the homeowner, but lender approval is required to proceed.  Buyers typically negotiate short sales with sellers, but lender approval is also required to finalize a short sale.  Short sales are more complex and may take longer than conventional purchases.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When a lender releases an existing mortgage for a payoff that is less or &#8216;short&#8217; of the total amount due, the transaction is called a &#8216;short sale.&#8217; Lenders sometimes accept short sales as an alternative to repossession and foreclosure, which can be expensive. Likewise, a short sale avoids foreclosure and credit-rating reductions for the seller. [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-283","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What Is A Short Sale? - Cupertino, CA Law Firm | Law Offices of Timothy D. Widman<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cloud.titletapsites.com\/widman-immigrationlaw\/2024\/06\/27\/what-is-a-short-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Is A Short Sale? - Cupertino, CA Law Firm | Law Offices of Timothy D. Widman\" \/>\n<meta property=\"og:description\" content=\"When a lender releases an existing mortgage for a payoff that is less or &#8216;short&#8217; of the total amount due, the transaction is called a &#8216;short sale.&#8217; Lenders sometimes accept short sales as an alternative to repossession and foreclosure, which can be expensive. Likewise, a short sale avoids foreclosure and credit-rating reductions for the seller. 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