Forum Discussion
Francesca_Knowl
Dec 07, 2013Explorer
Sully2 wrote:
So whats a "short sale"??
In simplest terms, it's a sale of a property where the proceeds are likely to fall "short" of the money that's already owed on it. It's usually done to forestall an imminent foreclosure, though sometimes can be the result of one.
Sounds like the O.P. bought in at the right time from somebody else who bought in at the wrong time.
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