short sale
8
5.6
- noun
- /ʃɔrt seɪl/
- Specialized
:
venta corta
- Many homeowners choose a short sale over foreclosure to minimize the damage to their credit score.
- short sale approved
- foreclosures and short sales
- agree to a short sale
If it was me, I would at least explore the option with the lender about a short sale because then I don't think it.
- If it was me, I would at least explore the option with the lender about a short sale because then I don't think it.
Examples
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However, foreclosures have a bad rate of 72.0%, while short sales have a better bad rate of 55.1%.
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At first, I was worried about the relative impact a short sale vs. a foreclosure would have on my credit score.
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My husband and I want to do a short sale in California and move for a new adventure.
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Right now in Long Beach, short sale listings are only 10% of the inventory.
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Almost everyone was told that a short sale was much better on their credit report than a foreclosure.
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A third party doesn't usually help homeowners get short sales approved faster.
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In 2008, short sales immediately became 25-30% of the active inventory of homes.
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Lower-priced homes—typically short sales and bank-owned properties known as REOs—attracted more offers than equity sales.
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A short sale allows homeowners to sell their property for less than what they owe on the mortgage with the lender's approval.
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Before agreeing to a short sale, homeowners should consult a real estate agent to understand the process.
Surface Forms
Morphology
This is a specialized financial/legal term whose sense — selling a property for less than the mortgage balance with the lender's agreement — is not predictable from the everyday meanings of 'short' and 'sale'. A B1 learner who knows common senses of the constituents would not infer the debt-relief and lender-approval aspects, so the expression functions as a technical idiomatic collocation.
Etymology
Short sale comes from the idea of a short sale, a sale that is 'short' of the amount still owed. Imagine a homeowner selling a house for less than the mortgage and the bank agrees to accept the smaller payment. That's why a short sale means selling a home for less than the loan with the lender's agreement.