If you haven’t seen or heard the words ”Short Sale” then welcome to 2009 where up to half of the properties in some areas are short sales.  It’s a reasonably new solution needed to help correct our national real estate market and given the alternative of massive foreclosed homes flooding the market with inventory, it does ease things into an economic recovery.

First, here’s a little explanation of a short sale so I can explain where the banks are going with this scenario.  Typically, a distressed home owner who is seeking a short sale will be facing one or all of the following conditions:  (more…)