A short sale is a situation when the current owners of a home owe more than the home is worth and are behind on mortgage payments. Since they can't sell the home and get out from under it, as an alternative, the homeowner can go to the servicer of their loan and ask them to accept less than what is owed on the home if the homeowner can find [...]
What is a short sale?
- By Corcoran Perry & Co
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