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A preforeclosure quick sale is basically a short sale before foreclosure. Today this is a extremely typical remedy for a property that is underwater and at present owned by a homeowner in the middle of a serious financial hardship. This agreement between the lender, owner, and interested buyer permits the homeowner to keep away from foreclosure by promoting the house for less than is owed on the loan ahead of the house is place into the foreclosure process by the lender or mortgage servicer.
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