Foreclosure, Pre-Foreclosure, Short Sale, REO
Information
REO
Real Estate Owned property by the lender as
a result of foreclosure or forfeiture. |
Foreclosure
An act of foreclosing, especially a legal
proceeding by which a mortgage is foreclosed. |
Pre-Foreclosure
Buyer and lender agree to agreement to prevent
foreclosure (i.e. deed in lieu, renegotiation
of mortgage terms or sale for less than lender
amount owned) |
Short Sale
Occurs when a property is sold and the lender
agrees to accept less than the payoff amount
owed, once the money is received the lender will
release their lien on the subject property.
Other factors may exist depending on lender
(amount maybe subject to repayment, subject to
claiming on tax return, etc.) You are advised
to obtain advice from an attorney and
accountant. |
Specializing in Pre-foreclosure,
Foreclosure and Short Sale Properties... Representing
Sellers and Buyers.
Please call or
email us for more information on selling your home
or buying a foreclosure or short sale property.
All discussions are strictly CONFIDENTIAL .
|
