This doesn't indicate that the bank forgets its debt liability; rather, the home owner is able to cover the remaining balance due in a lump sum which they were able to obtain from the proceeds of the sale.
You have likely heard the term"short sale foreclosure" or even"short mortgage ".
The bank does not want your property. There is a good deal of confusion about what this means and whether it applies to your own situation. It may be confusing and frustrating once you have to take care of a lender that just does not want to work together with you.
Short sale foreclosure may be a difficult thing for homeowners to deal with, but you need to remember it is only temporary.
As a homeowner facing the prospect of losing their home to foreclosure, I wanted to have a moment to describe what it is and how we could help. Short sale is when the lending firm requires less for my website
your home and my website (https://Wiki.Sennadar.com/index.php/The_Three_Actually_Apparent_Methods_To_My_Website_Better_That_You_Ever_Did
) provides you with a foreclosure loan in order to eliminate the mortgage.
You can avoid this by making sure that you don't enter a short sale till you have done all possible to maintain your home. For all those that are mindful of the term"short sale " this report is for you. It merely needs the cash for whatever its aims are. The brief sale is a procedure whereby the bank agrees to discount the mortgage balance in full in exchange for receiving an immediate payment by the homeowner.