Finance
In a NH short sale, the seller receives approval from the lender to sell the property for less than the mortgage balance. The lender's decision is significant because:
AThe lender must accept any offer the seller receives
BThe lender must approve the sale price since proceeds from the sale will be insufficient to pay off the loan✓ Correct
COnly NHREC can approve short sales
DShort sales do not require lender approval in NH
Explanation
In a short sale, the lender's approval is critical because the sale proceeds are insufficient to pay the full mortgage balance. The lender must agree to accept less than what is owed.
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