Short Sales

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A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt.

Explore the benefits of avoiding foreclosure and the typical requirements to get your lender to agree to a short sale.   Explore the opportunities and cautions for buying short sale properties.