![]() In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt. For a Freddie Mac loan, email What is a short sale?Ī short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. To check on the status of a particular short sale you should contact the lender. Here you'll find more information on short sales and their challenges, the government's efforts to address these challenges, and tools to help you navigate the short sale process. ![]() As more homeowners have fallen behind on their mortgages, many local markets have been flooded with distressed sale properties-short sales or actual foreclosures-demanding that REALTORS® develop new skills to respond on behalf of their clients and their communities. ![]()
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