What is a short sale?

What is a short sale?

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Do you owe more than what your home is worth? Do you have a financial hardship resulting in your inability to pay your mortgage on time or are you facing a foreclosure? You may qualify for a short sale. A short sale is when your lender accepts less than the amount due and owing to them. An experience foreclosure defense attorney can negotiate with your lender to allow you to sell your house for less than what is owed and negotiate any deficiency judgment (the difference between the amount paid to your lender versus what they were owed), since as the Seller you will be responsible for all outstanding liens and closing costs associated with the sale. So many homes lost a tremendous amount of equity during the housing crisis.…
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