You've probably heard of them, you probably know someone who is going through one, but you may not understand exactly what one is.
A short sale occurs when a mortgage company agrees to accept less than what is owed for the sale of a home.
Let me give you an example to demonstrate the point.
Mr. and Mrs. Smith (sellers) are no longer able to make their mortgage payments and have let the bank know they will be engaging the help of a real estate agent to market the sale … (4 comments)
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