Short Sale? What is that?
Dated: August 30 2020
A short sale is the sale of a real estate property for which the lender is willing to accept less than the amount still owed on the mortgage. For a sale to be considered a short sale, these two things must be true: The homeowner must be so far behind on payments that they can't catch up, and the amount owed to the bank must be more than the current value of the property.
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