Can you provide any information about a "short sale" of a home?

Can you provide any information about a "short sale" of a home?
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1 Answer

Answer :

answer:I don’t know the ins and outs myself but I do know a few people in my area that have gone this route. One never sold, but the other couple had good luck with their short sale. They sold for roughly 30% less than the original price but the bank agrees to accept that as sufficient payment. If you are facing the loss of your home I would certainly seek some legal advice regarding your options. While the short sale may be a good option, it would simply add insult to injury if it does damage to your credit rating or if there are hidden costs involved.
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