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Short Sale

Short sale - selling the home for less than you owe

How will this impact your current loan?

Monthly payment

Payments end upon the sale of your property

Interest rate

The loan will be terminated and payments end upon sale of your property.

Loan term (length)

N/A

Life of loan cost

Depending on the investor/insurer’s rules, part of the shortfall may need to be paid. Consult your tax professional to discuss any impact to tax liability.

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