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Is there any way to do a short sale without having to pay off the mortgage balance?

April 26, 2017Estate financing Home mortgages sale seller short

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Is there any way to do a short sale without having to pay off the mortgage balance?

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That is the purpose of a ‘short sale’: it pays off the outstanding mortgage balance although the short may not fully satisfy the loan balance and the lender then ‘discounts’ the loan to the amount being paid.