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Why a Short Sale is a Better Deal Than a Foreclosure?

Short sales are a great deal when they are approved. A short sale means that the bank has given permission to the owner to sell his/her property for less than what is owed. To see a thorough explanation of how short sales work and how to do one follow this link. The problem is it takes several months for the bank to grant this permission, in the meantime you have to wait and there are no guarantees that the bank will approve the sale. Buyers think logically, it benefits the bank to sell on a short sale since they get...

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