• A short sale is when the lender agrees to accept less than the amount owed on the mortgage instead of foreclosing. Many homeowners and REALTORS® have expressed their frustrations in the short-sale process, criticizing lenders for the amount
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• Industry estimates find that half of all homeowners who lose their homes to foreclosure have no contact with their loan servicers. Homeowners at risk of default or those who already are behind on mortgage payments are advised to contact their servicer
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