What is a short sale? A Short Sale is when the lender agrees to accept less than what is owed on a mortgage that is secured by real estate via a sale of the property to a third party. With this agreement, the lender releases the borrower from the mortgage, thereby preventing foreclosure. The lender typically will pay closing costs and commissions in a Short Sale to avoid foreclosure.....the Banks do not want to own your home.
What are the benefits of a short sale to the homeowner? The seller wins by avoiding … (0 comments)
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