The short-sale action guide

Book Review: 'How to Use a Short Sale to Stop Home Foreclosure ...'

Book Review Title: "How to Use a Short Sale to Stop Home Foreclosure and Protect Your Finances" Author: Robert Irwin Publisher: McGraw-Hill, 2009; 208 pages; $18.95 list ($14.21 on If you're an active participant in today's real estate market, you know that the recent drop in housing values -- right after a couple of years of unprecedented borrowing against home equity -- has forced us all to get much more familiar with short sales than ever before.(A short sale, for your information, is a transaction in which the homeowner is selling the home for less than he or she owes on it. This requires that the lender or lenders involved agree to forgive some portion of the outstanding mortgage debt in order to consummate the transaction.)Short-sale feasibility is the issue of the day, and seems to run on a roller-coaster of extremes, depending on how the wind blows on any given day, week or month. First, the banks didn't want to do them. Then, they were ag...