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What Is A Short Sale?
By Chad Miller | August 18, 2010
I just wrote a quick blog on short sales. Here’s a quick snippet:
“Foreclosures in Panama City, Florida are affecting families, communities, the housing market and the local economy. One option many troubled homeowners are taking to reduce penalties and avoid foreclosure is a short sale. The question is, what is a short sale?
A short sale is the sale of real estate in which the sale proceeds fall short of the loan balance or payoff. It’s an alternative many homeowners are taking to avoid foreclosure and default penalties.”
Read more about short sales here.
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