Short Sales for Sale in Huntington Beach | Huntington Beach Homes for Sale
The definition of a short sale is the sale of real estate in which the amount yielded from the sale is short of the balance owed on a loan secured by the property which will be sold. That means that a property has more which is owed against it, than it is worth in current market conditions.
In a short sale, the lender agrees to discount a loan balance because of a seller’s financial hardship. The negotiation for short sales is done with communication through the loss and mitigation department of the lender. Additionally, a property may have more than one loan against it, and they may be from multiple lenders. And the primary lien holder or other parties may file a Notice of Default or NOD on the property.
An NOD is the beginning of the foreclosure process, and there may be a trustee sale date associated wtih it. That is another consideration with respect to negotiating the short sale is requesting to have the trustee sale date postponed.
Search the MLS for Huntington Beach Homes for sale, and short sales in Huntington Beach.
