Specializing in Resort Properties in North Lake Tahoe and Truckee

Click HERE to learn more about Short Sales and Foreclosure.

Short Sale Defined:

* A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
* A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

REO Defined:

*REO stands for Real Estate Owned, which is just a fancy way to say 'Bank Owned'.

*Bank owned properties have already gone through the foreclosure process and are offered for sale directly from the bank.

We have set up an entire site to help clients better understand the Short Sale process. To learn how to AVOID FORECLOSURE please visit our site:

http://avoidforeclosuretruckee.com