http://blog.rockrealtywi.com/wisconsin-short-sales-pre-foreclosure/
A short sale occurs when a lender agrees to take less than the amount owed to payoff a loan as an alternative to foreclosure. Lenders know that it will cost them a significant amount of money to take a property back. The experts at Rock Realty can often convince them that they will be better off financially if they sell the property now rather than taking the home through foreclosure and trying to sell it later. So, a short sale can actually be good for them.
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