Short sale
Definition
An agreement between a mortgage borrower in distress and the lender that allows the borrower to sell the house and remit the proceeds to the lender. It is an alternative to foreclosure, or a deed in lieu of foreclosure
Related Terms Other terms related to 'Short sale' starting with the letter 'S' Servicing agent, Stated assets, Secondary markets, Servicing release premium, Shared appreciation mortgage Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 