What's a short sale?
Answers (2)
Short sale requires lender approval where current property owner is allowed sale a property LESS than mortgage owed. Type of sale has impact on property owner credit report "which can tank their overall scores" In most instances property owner can't purchase another home at least 2 years or more
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FIRST ANSWER
Louis,
A short sale is a real estate transaction in which the amount the amount owed on the property is in excess of the properties appraised value.
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