CA Short Sale

Posted 2024-11-04 17:03:19

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A CA Short Sale occurs when a homeowner sells their property for less than the amount owed on the mortgage with the lender's permission. In such transactions, the lender agrees to accept a reduced payoff to avoid the costly and lengthy foreclosure process. Short sales can provide relief for homeowners facing financial difficulties by allowing them to discharge their mortgage debts, albeit with potential long-term impacts on their credit scores. Understanding the exact nature of short sales is critical for homeowners weighing their options during financial distress.

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