Short sales are a gentler alternative to foreclosure for both sellers and lenders. “Compared to a foreclosure, a short sale generally allows an easier transition for the borrower, less impact on their credit history, and larger net proceeds to the loan’s owner,” said Tom Kelly, a spokesman for JPMorgan Chase, adding that Chase encourages borrowers who are unable to keep their homes to consider short sales.
via nytimes.com
Useful and informative story from the New York Times today about short sales and how to navigate them. Although Santa Fe wasn’t overbuilt as some towns were, we have a number of short sales and they’re in all price ranges & all levels of home, from Airport Road to Las Campanas.
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