The Walkthrough

Buying and Selling during the Corona Virus Pandemic. IF you were in the market before, it's very possible you still are. Difficult times come and go but many are still moving forward with their real estate transactions.

An increase in foreclosure rates will inevitably bring with it an increase in short sales. A short sale happens when you sell your house for less than your remaining mortgage balance, the proceeds of which go to the lender and in return the lender forgives the remaining balance.

Most lenders can pre qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre qualified and pre approved are different things.