Douglas is selling his home in a short sale. He lost his job.
Sellers who choose to sell short usually do so to avoid foreclosure due to financial issues such as debt. Homestead owners have not paid their taxes by May 15th.
Too short sale is to borrow security that you believe will go down in price and sell it on the open market. Your plan is to buy back the same shares later, preferably for less than you originally sold them for, and recoup the difference after your original loan has been repaid.
In a short sale, the house is sold for less than what the seller owes, so the lender never gets all the money back. Therefore, the original lender must agree to the sale. Sellers must prove that they have no other choice. The seller must prove hardship.
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