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JERI TOWELL is a Keller Williams Short Sale Specialist for Western Suburbs of Chicago IL - SFR ASD LDPD Short Sale Specialist. AVOID FORECLOSURE! The #1 Short Sale Specialist in our area has teamed up with the professionals of MIDWEST SHORT SALE INC. providing the best Short Sales Listing Service in the western suburbs of Chicago. Short Sale Homes For Sale. Kane County Short Sale, DuPage County Short Sale, Cook County Short Sale, Kendall County Short Sale, McHenry County Short sale. Short Sale for FREE! We are paid by Seller's Short Sale Lender: Bank of America Short Sale, CitiMortgage Short Sale, US Bank Short Sale, CitiBank Short Sale, Wells Fargo Short Sale, Wachovia Short Sale, Litton Loan Short Sale, Deutsche Short Sale, PNC Bank Short Sale, Chase Bank Short Sale, Harris Bank Short Sale.

   


What is a Short Sale?

            A short sale happens when the lender is shorted on a mortgage pay-off, meaning the lender accepts less than the total amount that is due. If your mortgage is $100,000, but a buyer is only willing to pay, say, $90,000, you are $10,000 short, not including costs to close the sale such as real estate commissions, recording fees or title, taxes and escrow charges.

Sometimes, to avoid going through the costs of foreclosure, a lender will sanction a short sale by letting a buyer purchase the home for less than the mortgage balance while the home is in pre-foreclosure stage. 

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