Finance
A 'short sale' in Massachusetts occurs when:
AA property closes in less than 30 days
BThe seller sells the property for less than the outstanding mortgage balance with lender approval✓ Correct
CThe buyer obtains a short-term bridge loan
DA property is sold below its assessed value
Explanation
A short sale occurs when the lender agrees to accept less than the full mortgage balance from the proceeds of a property sale, typically to avoid foreclosure when the property's value has declined.
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