short sales
Betting prices fall
Short sales are transactions in which an asset is sold before actually owning it.
In stock trading, you borrow shares to sell at the current price, hoping to buy them back cheaper later and pocket the difference: Short sales on tech stocks surged as the market dropped.
In real estate, a short sale is when a homeowner sells property for less than what's owed on the mortgage, with the lender's approval, to avoid foreclosure.
Below the surface
- foreclosureLender seizes mortgaged property
- lenderOne who loans money
- borrowerOne who takes temporarily
- defaultPreset standard option
deficiency · loan-to-value · equity · lien · principal · servicer · hardship · approval
Lender seizes mortgaged property
- underwaterBelow the surface
- propertySomething owned or inherent
- marketVenue for trade
- auctionCompetitive public sale
bidder · investment · discount · loss · writedown · as-is · bank-owned · price reduction
Recorded item in catalog
- realtorLicensed property seller
- brokerTransaction intermediary for hire
- buyerOne who acquires things
- offerProposal to provide
counteroffer · contract · negotiation · approval · purchase · closing · contingency · terms
underwater
Below the surface
- foreclosureLender seizes mortgaged property
- lenderOne who loans money
- borrowerOne who takes temporarily
default · deficiency · loan-to-value · equity · lien · principal · servicer · hardship · approval · payoff
foreclosure
Lender seizes mortgaged property
- underwaterBelow the surface
- propertySomething owned or inherent
- marketVenue for trade
auction · bidder · investment · discount · loss · writedown · as-is · bank-owned · price reduction · cash buyer
listing
Recorded item in catalog
offer · counteroffer · contract · negotiation · approval · purchase · closing · contingency · terms · agreement
- housing crisishousing bubble, housing crash, subprime mortgages, foreclosures, subprime loans
- real estatehouse, home, apartment, property, rent
short, sales, shorter, shortest, shortly, shortness, shorten, shortened, shortening