A short sale occurs when a property is sold for less than what is owed. The lender holding the mortgage agrees to take less than the payoff amount.
Many people are finding themselves in a situation in which they are unable to afford their mortgage payments. In this instance, a short sale may be a good alternative to a foreclosure.
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Stonegate Management Group, LLC., P.O. Box 239, Freeland, MD 21053 Office (410) 357-8946 Fax (410) 343-3186
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