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Updated over 6 years ago,
Short Sale Recapture?
Hello All,
I understand that during and sometimes after a foreclosure, depending on the state, that there is a specific period of time that the “defaulted homeowner” can recapture the property. I am wondering if this is the same case with a short sale? From what I understand, a short sale is an agreement between the current “defaulted homeowner” and lender to sell at a price that will attempt to cover the mortgage, but once put under contract or sold does the “defaulted homeowner” have the option to recapture the home in a short sale as they may in a foreclosure?
Thanks,
Josh Oaten