The short-sale concept has received a lot of notoriety, and late-night gurus promote semi- nars touting that they can teach you every- thing you need to know about short sales. Even Donald Trump has gotten into the game. Trump made the headlines when he proposed a short sale to help retired TV host Ed McMahon and his wife from losing their home in Beverly Hills. The McMahons were apparently $643,597 behind in payments on their $4.8 million loan. The Donald offered to buy the house, with Countrywide Home Loans taking a discounted payoff, and allow the McMahons to continue to live in the property as renters. Ultimately, the parties reached another solution, but this was a well-known example of how the short sale process works. If you want to learn more about buying a short sale visit http://www.buyingrentalproperty.org/buying-a-short-sale/
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