2 Answers

The only qualification for a house to be a short sale is that you owe a lot of money and can't pay the bank and you are just about set to get into a foreclosure situation. You are trying to get the house sold as fast as possible before the bank starts the foreclosure, for an amount the bank will accept to pay off the mortgage note and leave your credit report intact.

The house doesn't have to be in any condition physically, it's the condition of your mortage that counts.

14 years ago. Rating: 3
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Lets just say that you need to be ready to roll your sleeves up and get in there. It can go either way. You could get a Gem and move right in or you could get a piece of coal that will shine like a diamond after a few rubbing's.

14 years ago. Rating: 1
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