The Real Estate Short Sale Explained

Lately, we have been receiving a lot of home buying questions about the real estate short sale process. Actually, the questions are coming from two groups -- the buyers who view it as a possible investment opportunity, and the sellers who view it as a way to avoid foreclosure.

Both sides are correct. When used properly, a real estate short sale can help the homeowner in financial trouble avoid a home foreclosure. The short sale can also be a good investment opportunity for the savvy investor who knows how the process work.

So what is a short sale anyway, and how could it possibly help the lender, the homeowner and the buyer at the same time? This is a question we have addressed in a new article posted to Foreclosure City. Check it out below:

What is a Real Estate Short Sale Anyway?

Of course, it's not all sunbeams and rainbows. As with anything else in the world of real estate (sadly), there are people out there who take advantage of homeowners in financial distress. So here's my take on the subject...

Yes, the short sale process can help certain types of homebuyers in certain situations -- such as those who are facing foreclosure with no hope of getting caught up on their mortgage payments. But this type of process also attracts some sharks, so you need to be a smart consumer ... and that means doing plenty of research.

Here are some places to start your research:

• Wall Street Journal weighs in
• Washington Post offers some insight