Short Sale

Short Sale Network

September 9th, 2006

Welcome to the Short Sale Network

The Short Sale Network provides resources and tools to help homeowners who are finding it difficult to keep up with their mortgage payments. If a homeowner is consistently missing his or her mortgage payments, then the bank is likely to foreclose on the home. If the homeowner is upside down in his or her mortgage, (as in he or she owes the bank more than the home is worth or can be sold for) then a real estate Short Sale is the best solution once they can no longer afford the payment. This website aims to help all homeowners who are struggling to pay mortgage payments to keep out of Foreclosure.

Why most people need a Short Sale solution nowadays?

A real estate Short Sale is done when a homeowner owes the bank more than the home can be sold for at market value. In this hard economic time, home values are slumping in most areas. That means, homes that would usually sell for high values will now sell for much lower values, if they sell at all.

Since the home value has fallen and the mortgage balance has not, a homeowner in this situation is considered upside down in his or her mortgage. Even if the homeowner manages to find a buyer, the amount of money that he or she will get will not be enough to repay the entire mortgage balance.

The homeowner then has two choices:

to come up with the difference out of pocket, or
to ask the bank to accept the sale price

By asking the bank to accept the payout amount that is less than the mortgage balance, the homeowner is effectively proposing a Short Sale to the bank. If the bank feels that the sale price is as much as it is going to get in this economy and real estate market condition, then the bank will accept the Short Sale proposal by the homeowner. If the contract specifies it, the bank will not bill the homeowner for the difference. However, if the contract does not specify that the bank cannot later on come after the homeowner, the bank might. So, make sure that the contract specified that the bank will accept the smaller payout amount as paid in full.

We hope that the resources provided on our website will be useful and will help some, if not all, homeowners in some ways.

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Free Items

May 28th, 2010

Whenever something does not sell, people tend to want to give them away. However, most of the time, all the good items are already sold. They were first priced high and then if they are still not sold, the sellers will reduce the prices. After the sale or after a period of time, if the items still cannot be sold at any prices, the sellers will just give them away to anyone who can pick them up fast.

Most people do not want to keep stuff that they do no need or do not want around their homes so they would prefer to give to someone else.

Please note that most of the time free items are given to people who can pick them up. There is no shipping of free items and no delivering of free items.