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May 05, 2008

Short Sale

Some mortgage lenders offer short sale real estate transactions to borrower's who have defaulted on their loan. In a nutshell, lenders allow borrower's to sell their property for less than is owed on it - hence the name, 'short sale'.

Short sales provide borrower's with an opportunity to sell their property and get out from under their loan. When negotiated properly, short sales allow the homeowner to walk away from the property, salvage what's left of their credit, and avoid foreclosure.

Real Estate Investing article on "Short Sale"