A short sale occurs when a buyer does not bring adequate funds to a mortgage closing.

Name: A short sale occurs when a buyer does not bring adequate funds to a mortgage closing.
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A short sale actually refers to a type of real estate transaction where the homeowner sells the property for less than the amount owed on the mortgage, with the lender agreeing to accept the proceeds as full payment for the debt. It is not related to insufficient funds at a mortgage closing.

A Short Sale Occurs When a Buyer Does Not Bring