Preparing for a Seller Contribution

The details of a short sale are sometimes unclear. In summary, a short sale occurs when a lending institution agrees to accept less than what the homeowner owes on the house and thus will take possession of it. One of the details that more often than not goes unnoticed, but is critical to the process, is the potential requirement of a seller contribution. Banks determine if there will be a seller contribution and the amount of it depending on several factors, such as the seller’s disposable income, if the seller has refinanced, and if the seller has no financial hardship. Read the full article here: