Careful Review of Short Sale Terms
- Jul 22
- 1 min read
Special Episode 4, Short 4
Short sales can come with serious hidden obligations if the paperwork is not reviewed carefully. Many agreements include language that allows the lender to hold the homeowner responsible for the remaining balance after the property is sold for less than the loan amount.
This means the difference between the sale price and the original mortgage may still be owed, making it critical to fully understand all terms before agreeing to a short sale.
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Contact Newport Beach Real Estate Attorneys today -- go to NewportBeachRealEstateAttorney.com or call (800) 233-8521 for a complimentary phone consultation.
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