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What is a short sale or VA compromise?

April 26, 2017compromise sale short VA

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What is a short sale or VA compromise?

1 Answer

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10 Posted

This is a settlement in which the seller owes more for the property than the present market value. The seller and their agent work with the current mortgage company to see if the lender will accept less than what is due to payoff the mortgage and release the lien they hold on the property.