Ten Important Short Sale Tips and More by Guest, Karen G. Courtney
I have been writing Title Insurance on Real Estate Closings for a number of years. My underwriter is Attorneys' Title Guaranty Fund, Inc. ("ATG"), which only writes title insurance through its attorney-members.
In the past year or so, I have received dozens of inquiries about people considering either buying or selling under conditions of a "short sale," where the proceeds of the sale will not be sufficient to cover the balance of the underlying mortgage. Fortunately, for buyers, sellers and lenders, there is a way to do a transaction when such conditions exist. It is difficult, but it can be done.
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