Finance
What is a 'short sale'?
AA sale that closes in less than 30 days
BA sale where the lender agrees to accept less than the full mortgage balance✓ Correct
CA sale of a property under 1,000 square feet
DA cash sale with no financing contingency
Explanation
A short sale occurs when a lender agrees to accept less than the outstanding mortgage balance as full satisfaction of the debt, allowing a distressed homeowner to sell and avoid foreclosure.
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