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Whenever we take a secure loan or mortgage, we pledge some property as collateral to the lender which in case of us being unable to pay back the loan, gives the lender a legal claim on our property. However, sometimes when this is contested in the court of law, the equitable right of redemption can be granted to the borrower following which the lender cannot be as confident as before to own all the legal rights on the property and as such it is always better for the lender to obtain a court ordered termination of the equitable right of redemption associated with the borrower.

Five Reasons Why Short Sales Don

t Close

While it’s true that a lot of short sales are considered a good deal don’t think that you are going to walk in and buy one for fifty cents on the dollar. Banks aren’t stupid, they know what the property is worth and what a realistic price should be. An agent that prices a property too low is just wasting the seller’s time, the buyer’s time, and their own time!

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