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ESCROW 101

Short Sale

What is a Short Sale?

A Short Sale is an agreement by a lender to accept the sale of a property that nets them less than a full payoff for their loan, typically in order to avoid even more loss through the foreclosure proccess. Short Sales are often an excellent solution for both the home owner and the lender. The lender gets generally a better price, less cost, and a quicker sale through approving a short sale than they would in going through a foreclosure proccess. The borrowers get their credit restored and generally get relief from possible future legal actions and deficiency judgments. The end result of a short sale is the home is sold, the mortgage is satisfied, and the homeowner avoids a foreclosure or a bankruptcy.

We specializes in short sales and has tremendous expertise in closing such transactions. For more information, call us at 888-284-1914 and ask for one of our short sale specialists.


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