A Short Sale is the sale of a home for less than the balance of the mortgage loan, where the lender has agreed to settle for a lesser amount, and frees the initial borrower from the debt.  It’s a way for a family who is experiencing a hardship in these tough economic times to “get out from under” their debt, save their credit, have time to repair any credit damage, and likely buy another home in about two years.  This keeps a borower in a much better position than loosing a home to foreclosure. 

It takes a bit of knowledge above the normal day to day real estate activity in order to make a smooth success of a Short Sale.  The homeowner will have to write a Letter of Hardship to explain what has happened to create the hardship, and the lender will have to approve the Short Sale before the property can be sold.  The homeowner must understand that they will receive no proceeds from the sale, but the advantage is that they will be able to repair their credit within a two year period, usually, and qualify for a new purchase long before a person who looses their home to bankruptcy. 

With no real questions to start with, my focus will be on writing informative articles that will reflect the answers to the questions my prior clients have asked.  In my blog I plan to discuss topics about Adjustable Rate Mortgages (ARM’s), Short Sales, 1031 Exchanges, Conventional buying/selling, the San Antonio Market, Investment Properties, New Home Construction, Remodeling, Identifying Shoddy Workmanship, Buying Your First Home, and a variety of other topics.  I look forward to hearing from any reader, whether that reader is a client, a customer, a friend, a fellow Real Estate Agent, or Family. 

I hope to keep the content “Information Rich,” with very little “Fill” content.  So, with that said, I hope you will bookmark this site to come back and watch it grow.  Thanks to You!