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Short Sale
A short sale in real estate is when the proceeds from the sale of the property are less than the balance owed on the mortgage for that same property.
A lender will agree to accept less than is owed on the property if the borrower is facing foreclosure because foreclosure can be a lenghy and expensive process for the lender.
Bank Foreclosure
A lot of people know that their car could be taken very quickly if they do not make the payments, but it seems that more and more people are in shock when they realize how quickly a bank can take their home if they miss a few payments.
Short Sale Foreclosure
A short sale foreclosure
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