Tag Archive: short sale

Homeowner Consequences for a Successful Short Sale Vs. a Foreclosure in Minneapolis

House For Sale Sign

I have written previous articles defining short sales and foreclosures.  I will now compare the consequences to a homeowner of a foreclosure versus those of a successful short sale.

A Brief Look at Short Sales

House on suburban street with 'For Sale' sign in foreground

These days, in real estate, the term short sales is frequently heard.   What is a short sale, you may wonder.  Well, let me explain it to you by giving you an example.  Let’s say you bought a house two years ago with a mortgage of $200,000.  Let’s say you’ve paid of $5,000 of the…

Steven Hong Steven has been working in the real estate business for over 8 years. He began his career by obtaining his license for the sole purpose of purchasing investment properties. Now, 8 years later, he still has no investment properties but has helped many homeowners with their purchases and sales. Prior to real estate, Steven had worked in the IT industry, with many years of programming experience, as well as technical support experience. He loves answering computer questions, just try him! Steven is also an accomplished photographer. He marries his love for photography with real estate and shoots many homes for many other agents. You can visit his real estate photography website here. 952-915-2252