Learn about Short Sale? Video

Learn about Short Sale?

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By: MonkeySee.com - Business

MonkeySee.com is leading producer of lifestyle focused how-to content with over 10,000 videos spanning 169 subcategories.

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Learn about Short Sale? -

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Learn about Short Sale? -

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Added: 8/3/09

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Learn about Short Sale? debt expert amelia robinette facing foreclosure foreclosure house monkeysee mortgage property sale short pay-off

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Learn about Short Sale?

Speaker: What is a short sale? Amelia Robinette: A short sale is when you sell your property for less than you owe on your mortgage. You need to have the property listed with a licensed realtor and when you receive an offer for example, if you owe a $100,000 on your mortgage and you have an $80,000 offer, you and your realtor will submit that to the lender. The lender will approve or deny the offer and you will be released from your $100,000 mortgage through the $80,000 payoff from the buyer and any liens will be released from the property as well.

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Speaker: What is a short sale?
Amelia Robinette: A short sale is when you sell your property for less than you owe on your mortgage. You need to have the property listed with a licensed realtor and when you receive an offer for example, if you owe a $100,000 on your mortgage and you have an $80,000 offer, you and your realtor will submit that to the lender. The lender will approve or deny the offer and you will be released from your $100,000 mortgage through the $80,000 payoff from the buyer and any liens will be released from the property as well.

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