homeownership
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Understanding Short Sale in Real Estate
Definition of Short Sale A short sale is a real estate transaction in which a homeowner sells their property for less than the outstanding mortgage balance on it. In other words, the sale proceeds will not be enough to pay off the mortgage in full, so the lender agrees to accept the shortfall as full payment of the debt. Short…
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Modular Home vs Mobile Home: What’s the Difference?
Understanding the Basics of Modular Homes Modular homes are factory-built homes that are constructed in sections or modules. These sections are then transported to the building site and assembled by a builder. Unlike mobile homes, modular homes are built to conform to the same local building codes and regulations that govern traditional site-built homes. Modular homes are typically considered to…
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