Short Sale On House

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The short sale process 1. Contact the Primary Lien holder and submit an application to be accepted into their Short sale. 2. The Lender should verify that any government programs, such as Home Affordable Foreclosure. 3. Once approved the Lender should provide the terms of the short sale. 4..

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purchased 16% of homes in February, identical to January’s 16%, but a tick up from a year ago (15%). distressed sales- foreclosures and short sales – represented 4% of sales in February, equal to both.

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Short sales and foreclosures. Both short sales and foreclosures are usually the result of a borrower’s inability to continue making mortgage payments. A short sale is where your mortgage lender allows you to sell the home for less than your outstanding loan balance and cancels your obligation to repay the remainder of the loan.