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short sale

A short sale involves selling a home for less money than the total of any remaining balance on the mortgage plus any liens on the property. (noun)

An example of a short sale is when you owe $150,000 on your home mortgage and $5,000 in Home Owners Association fees and your mortgage lender approves the sale of your house for $130,000.

See short sale in Webster's New World College Dictionary

☆

a sale of securities or commodities which the seller does not yet have but expects to cover later at a lower price

See short sale in American Heritage Dictionary 4

noun

The sale of a security that one does not own but has borrowed in anticipation of making a profit by paying for it after its price has fallen.

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» How to Do a Short Sale

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