One of the most important aspects of recent market trend is short sales. Short sales constitute about half of the stocks and are gradually replacing foreclosures in the market economy. The statistics in near future will only show short sales. It may happen that you are required to do short sell in order to get a job although you are in a sound financial condition. This seems to be the only option for a citizen who never missed his payment and has not gone for a high-risk loan. People who go for financing which gives you new ideas and ways of marketing seem to be in distress.

President of Yale Street Mortgage in Pasadena, Scott Van Dellen says that people have to give up their personal belongings in order to make payments as the interest rates are continuously rising. They will possibly have to opt for short sell.

Here is a case where short sale is involved. When a property owes more than it’s worth to a homeowner, he is likely to sell it. The selling price of the property cannot be fixed at a high price that it used to have since purchasers will not be able to finance it. Now the difference in amount is either paid by seller himself or banks are requested to accept a lesser amount. It is approved by banks then it is short sale.

Like banks, real estate agents too are required to sustain in the short sale market. Apart from his duty of selling a house he acts as a negotiator, an advocate and an expert. An agent must be well experienced in order to provide you with the right service.

Avoiding legal proceedings is the goal of everyone. Banks and governments do not want to foreclose so they go for short sales since they receive at least 50 percent less in foreclosure as compared to short sales.

An attorney of Borton Petrini in Redlands, John Mansour remarks that foreclosures and short sales should not be grouped together. A foreclosure shows defect in homeowner’s credit score which can be a drop of 200-pointon an average but in a short sale number of payments missed determines what amount of FICO is affected.

The seller of short sales can be homeowner again but legal proceedings pose a check on the clients. The Home Affordable Foreclosure Alternatives program regenerated the process of short sale.