This is a web journal that centers on short sales, which are becoming more prevalent in today’s real estate market.
A “short sale” occurs when a bank accepts a lower price than the mortgage balance, allowing distressed homeowners to sell their home and satisfy the debt with no future obligation or deficiency judgment.
J. Philip Real Estate specializes in these transactions, and I personally broker several per month. My first short sale was in the late 90’s.
My intention with this journal is to explore the practice, share success stories, and to promote my firm as your first choice and best option if you are facing the need for this difficult transaction type. If you are not in my market area but are in need of an agent who specializes in short sales, I can very likely refer you to a specialist who works your marketplace.
J. Philip Faranda
