Finance
A short sale in Wyoming occurs when:
AA property sells very quickly after listing
BA property sells for less than the outstanding mortgage balance, with the lender agreeing to accept the proceeds as full or partial satisfaction✓ Correct
CA property is sold by a lender after foreclosure
DA property sells below its assessed value
Explanation
A short sale requires the lender's approval because the proceeds are less than the loan balance. The lender may forgive the deficiency or pursue a deficiency judgment. Short sales are an alternative to foreclosure and can be less damaging to the seller's credit score.
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