The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Amelia Carhartt who wrote (122181)	5/11/2008 9:16:01 AM
From: Pogeu Mahone	Read Replies (2) of 306849

Short sale is when you owe th e bank more then the house is worth and the bank will take a offer below what it is owed. You owe 400000 and the house is best offer is now 340000. The bank says ok and eats the difference. Probably below 2% of cases. Banks are stupid till the end.

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