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07/17/2019

What is a short sale?

Simply put, a short sale occurs when a lender agrees to take less than the amount that is owed on a piece of property. The benefit of a short sale occurs when your net proceeds from a short sale are insufficient to cover your loan balance, but the lender agrees to take a lesser amount. A successful short sale includes the lender forgiving any remaining loan balance, clearing you from any future contractual obligations to the lender. California Short Sale Solutions provides short sale counseling and services to any homeowner in the state of California at no cost.

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