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In quick sale the lending institute normally banks or other mortgage lenders agree that because of economic system crunch on the enterprise of the mortgagor, the institute would low cost a loan balance due on the property of the vendor. The property is bought for an quantity lower than the outstanding steadiness of the loan. However not all lenders subscribe to this agreement, because foreclosure of such property might be definitely worth the stress. To the vendor: o He avoids the ache of seeing his property foreclosed with out having any decision to stop it
o He saves himself the …