(NAPSI)—For many families, the best financial move they’ve made in a long time is a short sale. That’s because for struggling homeowners, a short sale can help avoid foreclosure and prevent a big hit to their credit. So many people have discovered this valuable tool that short sales have become commonplace during the housing crisis, with the numbers reaching record levels in 2012.
A short sale is a real estate transaction in which a borrower’s mortgage lender agrees to a sale of the property for less than the balance due on the loan.
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