In a short sale, all net sales proceeds are usually paid to a mortgage lender in return for its agreement to release its mortgage.

Name: In a short sale, all net sales proceeds are usually paid to a mortgage lender in return for its agreement to release its mortgage.
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Question

​ In a short sale, all net sales proceeds are usually paid to a mortgage lender in return for its agreement to release its mortgage.

Quizplus · Accepted Answer

In a short sale, the lender agrees to accept less than the amount owed on the mortgage, and the proceeds from the sale are typically used to pay off the mortgage debt.

​ in a Short Sale, All Net Sales Proceeds Are

in a Short Sale, All Net Sales Proceeds Are