A short sale is when a lender allows a property to be sold for less than the amount owed on the mortgage and takes a loss. This usually occurs when the market drops and the property is worth less than what the current mortgage is. Short sales are a source of great opportunity in the current market, though can be difficult to navigate. Short sales are becoming more commonplace as lenders and homeowners look for alternatives to foreclosure; they can be a "win-win" for all parties involved. Contact us for more info or to schedule a showing for any of these properties. Click here to search the entire Big Bear MLS or view other property galleries.