Fort Lauderdale Litigation Lawyer, Florida
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Braverman PA2650 W State Road 84 Ste 103
Fort Lauderdale, FL 33312
Cohen Jay350 E Las Olas Blvd
Fort Lauderdale, FL 33301
Legal Term Highlighted
short sale (of house): A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes. See also deed in lieu (or foreclosure).
