What Is Short Sale?
A short sale is a sale where the lender agrees to accept less than the full mortgage balance owed, allowing a financially distressed homeowner to sell and avoid foreclosure — the lender must approve the sale price and terms in advance.
Most useful for: Home Seller · Homeowner
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This definition is provided for general educational purposes and is not financial, legal, tax, or real estate advice. Verify important decisions with appropriately qualified professionals.
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