Beware of Short Sale Fraud

Short Sales are real estate sales where the sales price of the home will not be sufficient to pay off the mortgage(s). Time and time again the equity of a home will be removed through second and third mortgages, effectively taking the profit out of the home prematurely. Often the financial situation results in folks having to relocate in the hope of clearing their debt. The increased number of these short sales has brought out a whole category of fraud.

Read the article on the Massachusetts Real Estate blog, here. This article came from Bill Gassett's (a REMAX agent in the Hopkinton area) blog. Enjoy!