How is the short payoff amount determined?

A short sale refers to a closing on your home for a purchase price that is less than the payoff on your existing mortgage. "Short sale" means the sale of real estate that is subject to a mortgage for an amount that is less than the amount owed to the mortgagee on the outstanding ... Jul 18, 2022 ... A short sale happens when a homeowner sells real property for less than the full amount owed on the mortgage. A short sale is a pre-foreclosure residential real estate transaction where the owner of the mortgage loan, the lender or lien holder (hereinafter sometimes " ... Jun 5, 2020 ... Qualify the Property and Seller for a Short Sale · The seller must have no equity in the home. · The seller must be unable to repay the difference ... Nov 6, 2023 ... A short sale home is a property that's sold for an amount lower than the remaining mortgage debt. The sale is named “short” because the lender ... The real property transaction falls under the jurisdiction of the Real Estate Commission. The Department of Finance and Real Estate Commission recognize that to ... What is a short sale in real estate? A short sale is when an individual sells their property for less than is owed on a mortgage. This is usually an ... May 21, 2024 ... A short sale occurs when a homeowner in dire financial trouble sells their home for less than they owe on the mortgage. The lender collects the ... ... real property; or. (xii) advises or offers advice to an owner of real estate concerning the negotiation or completion of a short sale; and. (B) includes a ...