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What are the Stages of the Foreclosure Process?
This is when the bank files the foreclosure lawsuit. In some states, its called the Notice of Default and in other states, it’s called a Lis Pendis. The bank can file the foreclosure lawsuit when the borrower becomes 3 payments behind.
What are the benefits of doing a short sale?
Let’s first cover what the definition of a short sale is.
A Short Sale is when the lender agrees to accept less than what’s owed on a mortgage that is secured by real estate.
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