Simply put, a short sale takes place when a lender accepts a purchase offer on your home that is less than the amount you owe the bank. You might wonder why a bank would do this.  If the bank fears that your home is in danger of going into foreclosure, it is just good business for the bank to accept a short sale instead.  A foreclosure is very time consuming and expensive for the bank and it is likely to save them money to accept an offer that is less than the loan balance.

If you are considering a short sale, we know you have some tough decisions to make.  It is essential to get good, accurate information as early in the process as possible.  The Lane Team will be happy consult with you to discuss all of your options in more detail and help you determine whether a short sale is the best option for you.