Short Sale Bankruptcy

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Short Sale Bankruptcy

J
John Crane

8 Views • Jul 04, 2012

Description

A short sale happens when a lender agrees to allow a person to sell his house for an amount that does not result in the mortgage being paid off. Along with mortgage modifications, short sales are a useful tactic to try when a mortgage is the main source of trouble. There are also significant credit reporting advantages to a short sale over the alternative, a foreclosure.