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What is a Short Sale?

Everyone’s talking about this new phenonemum called the Short Sale.  What is it you ask?  A short sale in real estate is not always a pleasant transaction.  In times of declining home values, a homeowner can be caught in a position of negative appreciation.  In other words, the current market value of the home is less than what is owed to the bank.  This causes a problem if the homeowner... [Read more]