The word 'short sale' is becoming a very popular phrase in the real estate industry over the past 12-24 months.  So WHAT is a short sale?

Simply put, a short sale is where a lender agrees to accept less than what is owed on the mortgage balance?

The typical scenario is when a homeowner loses his/her job or the bought the property with some exotic mortgage financing (interest only, teaser interest rates, etc) and now the payments have skyrocketed such that they can no longer afford the house payment.  The loan goes into default.  As most of you are aware, the housing prices have gone down over the past 12 months, leaving these homeowners owing more than their house is worth.

If you would like to discuss your financial situation, please contact me directly at 317 846-4888 direct.   Feel Free to visit our website at www.Guttinggroup.com.