short sale: What Happens During a Short Sale? - 01/28/09 11:27 AM
As an agent with experience in short sale transactions, I've decided to prepare a detailed explanation, although not thorough, of the process.  Please keep in mind that each transaction is different.
Short Sale – The sale of a property in which the lender consents to receiving a loan payoff of less than what is still owed by the Seller on the note secured by the property. In the transaction, sufficient funds are generated to cover all of the Seller’s closing costs (commission, title charges, escrow fees, etc.) and the payoff of any existing loans and/or liens of record without the Seller … (3 comments)

 
Jovelle Schaffer, GRI (Sotheby's International Realty)

Jovelle Schaffer, GRI

Los Feliz, CA

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Sotheby's International Realty

Address: 1801 N. Hillhurst Avenue, Los Angeles, CA, 90027

Mobile: (213) 718-1110

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