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Short Sale Information A short sale by definition is; A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes. If you have a specific question about short sales or forclosures or would like more general information and a Free List of Short Sale Properties in the area of your choice |