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The Treasury Department has unveiled new rules for short sales starting in 2010. Troubled homeowners, either by loss of job, not enough money in savings, or just too high a mortgage payment may need to sell their home to get back in a realistic situation. Many of these homeowners need to sell, but they can’t get a price high enough to pay off their mortgages. According to the National Association of Realtors, roughly 1 in 10 homes was a short sale in 2009. ;)
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