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fire sale

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akugbe Joined: 19 Oct 2007 Posts: 1 1.28 Dollars($)	Posted: Fri Oct 19, 2007 10:53 am    Post subject: fire sale what is a fire sale or a sale where you asumed someone else mortgage because that person is unable to make payments and to avert forclosure, you asume the mortgage with the bank's blessing
livinginnky Moderator Joined: 08 Sep 2007 Posts: 596 23.69 Dollars($)	Posted: Fri Oct 19, 2007 11:03 am    Post subject: According to Wikipedia - "A fire sale is the sale of goods at extremely low prices, typically when the seller faces bankruptcy or other impending distress. The term may originally have been based on the sale of goods at a heavy discount due to fire damage" _________________ Eric Matthews Mortgage Refinance and Home Loan Guide
adonis Joined: 22 Oct 2005 Posts: 1436 Location: ALASKA 135.43 Dollars($)	Posted: Sat Oct 20, 2007 12:16 pm    Post subject: Welcome Akuqbe, I haven't heard of a fire sale in mortgage but in general it's a situation where the prices of securities in the financial markets are too low. _________________ Procrastination is the enemy of your financial sucess

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