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05-02-2010, 04:54 AM
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What does shorting sale of sub-prime mortgages mean?
What does shorting sale of sub-prime mortgages mean?
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05-03-2010, 01:57 PM
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It means that the seller or previous owner( if in default) had a sub prime loan, which means that he was less than credit worthy for a normal loan ( high risk) The short sale means that the seller is probably in default or behind on his payments and the bank is willing to sale the property for less than what the bank is owed by the previous owner. They are agreeing to dump the property at a loss because they feel like the value of the house is not there and the possibility of collecting form the seller or previous owner is not good
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