The Basics Of Short Sales
When a borrower of a real estate experiences a sudden financial difficulty and is not able to pay the mortgage payment and there is no assurance of paying the outstanding debt, they can resort to what we call a short sale.
When a borrower of a real estate experiences a sudden financial difficulty and is not able to pay the mortgage payment and there is no assurance of paying the outstanding debt, they can resort to what we call a short sale.
A short sale is when the lender, usually a bank, accepts payment less than the amount due from the sale of a real estate. Banks do this usually for securing a reasonable amount from the outstanding debt that the borrower failed to pay instead of getting no benefit at all. Typically, upon the lender
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