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A short sale is a sale of real estate in which the net proceeds from selling the property will fall short of the debts secured by liens against the property. In this case, if all lien holders agree to accept less than the amount owed on the debt, a sale of the property can be accomplished. A short sale has two intrinsic and inseverable components.
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Under the new program, which has been in the works for nearly a year, lenders are paid if they agree to a short sale, which involves selling a home for less than the balance on the mortgage. The.
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In a previous study, CoreLogic – which conducts a monitoring program designed to help lenders detect short-sale "property flops" by alerting them when there’s more than one loan.
Homebuyers looking for a good deal on a property purchase can get a price break on a short sale – if they understand the short-sale process completely. A short sale is when a home owner sells his or.
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