Short sale

an instance where a borrowerPerson responsible for repaying a loan who has signed and agreed to the terms in the promissory note. sells residential real propertyowner-occupied real property in Maryland, which property has a dwelling on it designed principally as to a third partyThe claimant under a Liability Policy. So called because the person making the claim is not one of the prior to a foreclosureThe legal process used to force the payment of debt secured by collateral whereby the property is sold sale and the servicerThe entity that performs mortgage servicing. forgives any shortage on unpaid principal balanceThe outstanding balance on a loan, excluding interest and fees..