What is a short sale? Let’s talk about the basics-
Define short sale:
A short sale is a sales transaction in which the seller’s mortgage lender agrees to accept a payoff of less than the balance due on the loan.
In our market today, these are not as common as they used to be, but there are still a few floating around.
This link and article from Realtor.Org has very good info, let me know if you have specific questions!
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