Question

What is the difference between a short sale and a deed in lieu of foreclosure?


Select the best answer from the choices provided.
A deed in lieu of foreclosure must be approved by the bank, whereas a short sale requires no approval.
A short sale must be approved by the bank, whereas a deed in lieu of foreclosure requires no approval.
A homeowner could earn money from a short sale but not from a deed in lieu of foreclosure.
A homeowner could still owe the bank money after a short sale but not after a deed in lieu of foreclosure.