Having closed more than a hundred short sales, we have answered lots of questions about short sales. Many people wonder what a short sale is and why a bank would agree to a short sale.
A short sale is basically when you owe more than what the home is worth and the bank agrees to take less than what is owed on the mortgage and accepts is as payment in full. The bank agrees to these terms because they will receive more money from a short sale than they would if the home went to foreclosure.


