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Archive Home > 2008 > May > 18 > A way out with the short sale

A way out with the short sale

More local homeowners who face foreclosure are turning to a rare option to avoid that fate

By Andrew Moore / The Bulletin
May 18, 2008

The short sale.

In real estate, it’s the sale of a home or property for less than the amount owed the lender. The owner nets nothing on the sale and until recently, it also meant a tax liability, as the IRS considered the difference between the sale price and outstanding loan amount as....

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Published daily in Bend, Oregon, by Western Communications, Inc. Copyright 2007.