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Benefits of a Short Sale- A solution to a difficult problem. The owners of the house are able to sell the property, which allows the loan to be paid off without getting a foreclosure on their credit. The lender avoids the added cost associated with foreclosure proceedings
- The owner of the house has some control over the timing of the sale of their house and their move from the property.
- In most cases, the owner of the house receives a full release from the lender and is not responsible to pay the lender back for the loss it takes.
- The owner of the house does not suffer a foreclosure and the awful damage to their credit.
- The transaction is complete with no cost to the owner of the house. Title and escrow fees, commissions are paid by the lender.
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