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arrowsimgA short sale needs to be completed before a foreclosure sale or trustee sale is executed. In California, a trustee sale normally takes place at a public auction. If there is no successful bidder, the property reverts back to the lender and is now what is called “bank owned” or an REO.

If you need help with a short sale or finding the most appropriate option for you, call us. We can help.

CALL TOLL-FREE 1-800-474-0341.

 

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A short sale is a long process. Does that sound contradictory? Not really. “Short” refers to a sale where the amount owed is less than the value of the home – hence, the sale proceeds are “short” to cover the mortgage. “Long” refers to the length of time involved in getting the short sale approved by the lender...

   
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