Since 2008, 2.2 million U.S. homes have been sold via short sales, providing financial relief to strapped homeowners and opportunities for savvy buyers and investors. In a short sale, the lender accepts less than the full amount owed on the mortgage and releases the homeowner from any future payments. The ABA Consumer Guide to Short Sales explains how a consumer can make the most out the federal program governing short sales, the Home Affordable Foreclosure Alternative, and how a buyer can purchase a short-sale property at less than market value. The book translates technical guidelines into an easy-to-understand, practical resource that will help homeowners and potential buyers to evaluate whether a short sale transaction is the right choice for their circumstances and to discuss the short sale option knowledgeably with their lenders.
- ISBN10 1627227679
- ISBN13 9781627227674
- Publish Date 7 August 2015
- Publish Status Out of Print
- Out of Print 4 February 2023
- Publish Country US
- Imprint American Bar Association
- Format Paperback (US Trade)
- Pages 148
- Language English