What every Buyer needs to know about Short Sales - #1

What is a short sale? - If a home is being sold for below what the current seller owes on the property - and the seller does not have sufficient funds to make up the difference at closing - this is a pre-foreclosure or short sale. Many more homeowers are finding themselves upside-down in their mortgage due to a number of factors, including job loss, aggressive borrowing, and declining home values due to a slow real estate market.