Just a few years ago, foreclosure, pre-foreclosures, loan modification, work-out plan, forbearance, deed in lieu, deficiency judgment, short sale were uncommon words almost never used in everyday conversation.
Today they are part of our everyday vocabulary. On the supermarket line, at the hairdresser and in the media constantly.
For myself, being so active in short sale investing, the meaning and importance of these terms has become second nature. My assumption was this was the same for everyone.
Then it hit me. Reading the Sunday Naples News real estate section, there was the question – WHAT IS A SHORT SALE? And you know that if one person is asking, many others want the answer and just don’t want to ask the question.
So, let’s get some of these terms clear. And if there are any questions afterward regarding these definitions of foreclosure, pre-foreclosures, loan modification, work-out plan, forbearance, deed in lieu, deficiency, and short sale just contact me and we can chat further.
http://www.stopforeclosureshortsaleteam.com/