What is a Short Sale?
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because current market condition, market value decline and irresponsible sellers want banks to eat it, that could be why it generally took so long. expect about 3~5 month of negotiation period. sometimes if sellers are true home owners and for some reason have to go short, bank may break exceptions and eat the diff, but this market is filled with investors, and once their bubble burst, bank has to deal with it.. its a bad financial cycle. Oh don't forget about 1099c, investors, you asked for it!
hafa123 2 years ago