What is Short Sale?

These days everyone is talking about Short Sale? Short Sale is when your balance of your Mortgage is higher than value of your property. However, to qualify for a short sale, you must be in some form of Hardship! In definition, hardship means privation or suffering!

You heard from your neighbor or a friend that hardship means bankruptcy, or loss of employment. Or your Real Estate Agent told you that, we can sell your house short and don't' worry about anything! So, is not simple as what you have heard! Also, there are companies out there advertising that we negotiate from your behalf, only they charge you a hefty fee and selling is your responsibility. This is an example of bad decision!