Applying for Short Sale with a Bank’s Loss Mitigation Department

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Foreclosure is a very real possibility for many homeowners today; instances of foreclosure have been rising since 2008.  This risk has increased due to the downturn in the real estate market and the overall economic difficulties across the nation.  Some homeowners are at risk because they have lost income from a divorce, an illness or loss of employment.  Regardless of the cause of the homeowner’s financial trouble, every homeowner wants to avoid foreclosure.  To avoid foreclosure, many homeowners are looking into the options of loan modification and short sale.


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