Question

A "short sale" is one in which: A) the escrow has been reduced to the minimum...

A "short sale" is one in which:

A) the escrow has been reduced to the minimum

B) Inspections are limited to earthquake and pest

C) lender agrees to accept sale proceeds as the satisfaction of a buyer's debt

D) lender agrees to accept buyers note to lieu of cash payoff of the loan balance

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Answer #1

The correct defintion for short sale is:-

C) lender agrees to accept sale proceeds as the satisfaction of a buyer's debt

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