Contracts
In a NH 'short sale,' the seller's lender must agree to:
AReduce the mortgage interest rate
BAccept less than the full amount owed on the mortgage as full satisfaction of the debt✓ Correct
CExtend the loan term for the existing seller
DTransfer the mortgage to the buyer
Explanation
A short sale occurs when the lender agrees to accept less than the outstanding mortgage balance from the sale proceeds, typically to avoid a more costly foreclosure. Written lender approval is required before closing.
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