New book explains alternative to foreclosure

"Short Sale: A Practical Approach," by Danny Cachuela, is a guide to the often misunderstood alternative to foreclosure, the short sale. Intended to inform sellers, buyers and investors, the book offers practical suggestions on real estate transactions involving distressed mortgages or owners under financial hardship. Timed to coincide with the recent surge in foreclosures on American homes, the book aims to arm readers with helpful information to avoid bank seizure.

"Because of the current housing situation, many homeowners are facing possible foreclosure," Mr. Cachuela says. "In many cases, mortgage payments are going up and there is little equity on the house due to declining prices. My book is filled with the practical aspects of short sale and what to expect when seeking approval from the lender."

The book is divided into separate sections that offer specific information on buyers, sellers, real estate agents and the short sale process itself. Key topics include the foreclosure timeline, workout packages, contractual requirements, managing multiple liens and many more.

Written for a broad audience, the book aims to offer information in understandable language for the average homeowner.

"Short Sale: A Practical Approach" is available for sale online at Amazon.com, BookSurge.com and through additional wholesale and retail channels worldwide.

About the author

Mr. Cachuela is a licensed associate broker and a certified public accountant. A first-time author, he was inspired to write "Short Sale: A Practical Approach" by the recent rise in foreclosures on American homes. He resides with his family in Newtown Square, Pa.