Sale of real estate property in which the proceeds are less than the balance owed on loan secured by property sold.
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A. B. C. D.B
The correct answer is B. Real estate short sale.
A short sale is a real estate transaction in which the lender agrees to accept less than the full amount owed on a mortgage loan, in order to facilitate the sale of the property. This is done when the property value has declined, and the outstanding mortgage balance exceeds the current market value of the property. The borrower typically initiates the short sale process by listing the property for sale with the lender's consent. The lender then evaluates the offer and may agree to a short sale, which allows the borrower to sell the property and avoid foreclosure.
Foreclosure (answer A) is the legal process by which a lender takes possession of a property from a borrower who has defaulted on their mortgage loan. This typically occurs when the borrower fails to make their mortgage payments, and the lender seeks to recover the outstanding balance of the loan by selling the property.
Multiple listing service (answer C) is a service used by real estate agents to list and advertise properties for sale. It is not directly related to the sale of a property that is underwater, or where the proceeds are less than the outstanding mortgage balance.
Therefore, the correct answer is B. Real estate short sale.