foreclosure: Difference between a short sale, foreclosures, and REO's - 10/27/08 08:43 PM
What is a Short Sale?
A short sale occurs when a lender agrees to take less than the full loan payoff for a an owner's property. In most cases, the owner is in default and is not making their payments for whatever reason.
 
Short sales, usually, are the first step to avoid foreclosure. Although the lender(s) will recover less than the total loan amount in a short sale, they may prefer this in the event of a possible foreclosure. The costs of foreclosing on a property may be more than the bank's loss by taking a short sale. Also, the … (0 comments)

 
Michelle Graves (Keller Williams Realty-Mooresville)

Michelle Graves

Mooresville, NC

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Keller Williams Realty-Mooresville

Address: 118 Morlake Dr Ste 100, Mooresville, NC, 28117

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