What’s the Difference Between a Short Sale and Foreclosure?

Jacob Kepler/Bloomberg via Getty Images Two options for homeowners who fall behind on mortgage payments are a short sale and foreclosure. While the prospect of losing a home is a hard reality that many people face, it’s important to understand the difference between these two processes. How long do short sales and foreclosures take? Which is […]

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Disadvantages of Buying a Short Sale: A Deal This Good Comes With Risks

Fancy/Veer/Corbis via Getty Images A short sale is the process of selling a home for a price that won’t cover the cost of the outstanding mortgage. It’s a disheartening situation for sellers who find themselves in financial distress, although it can be their only option. But for buyers, a short sale can be a chance to buy […]

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Can I Sell My Home If It Is in Foreclosure?

Joe Raedle/Getty Images Foreclosure is a long and heartbreaking process for a homeowner. But, it’s not hopeless. When looking for a solution to defaulting on their mortgage payments, many owners float this question: “Can I sell my home if it is in foreclosure?” The short answer is yes. Up until the home is sold at auction, you can rescue your home by […]

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Have an Underwater Mortgage? These Solutions Can Help You Come Up for Air

DigtialStorm/iStock If you’ve found yourself unable to afford your mortgage payments, you’re not alone. In fact, 3.2 million households find themselves in that position, according to Black Knight Financial Services. In the real estate world, many people refer to this as an underwater mortgage. So what does that all-too-common euphemism actually mean and what are your […]

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