Nevada Department of Business & Industry Names Short Sales as One Alternative to Foreclosure

There are a number of ways that upside-down homeowners can avoid foreclosure. Short Sales are an important alternative among them.

SHORT SALE

In a short sale, you sell the house for less than you owe. You can't do a short sale without the lender's permission.

With a short sale, you make necessary repairs to the house; pay the real estate commission, taxes and government fees; and give the lender whatever money is left over -- a partial payment.

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If you want more information on Short Sales & Bank-Owned Properties, visit Understanding Foreclosures Las Vegas.