Finance
In Louisiana, a 'short sale' occurs when:
AA property sells in a short period of time
BThe lender agrees to accept less than the full mortgage balance in a sale, allowing the seller to avoid foreclosure✓ Correct
CA cash buyer makes a fast offer
DA seller sells below the appraised value
Explanation
A short sale occurs when an underwater homeowner sells the property for less than the mortgage balance with lender approval. The lender agrees to accept the proceeds as full satisfaction (or partial satisfaction with a deficiency balance) of the debt, helping the seller avoid foreclosure.
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