If your debt exceeds the amount of money you can get for selling your house, sometimes the bank will accept less than what they are owed and call it even. It’s not an easy process and you have to prove to the bank that it’s worth it for them, but it can be less harmful than foreclosure. Consider getting out ahead of it and consider selling before you reach that point of having to choose between the two.
If you have any questions about short sales, contact us by calling (781) 319-1900.
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