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How a Short Sale Lawyer Protects Your Credit and Financial Future
Category:
Law
When a homeowner sells their house for less than the remaining balance on their mortgage, it's known as a short sale. This occurs when a borrower is "underwater," or owes more than their property is worth, as a result of a large decline in the home's market value. The lender must agree to the short sale, accepting less than the full amount owed.
