Hi,
Short sales and foreclosures are related yet vary in importance. The basic point of difference between the 2 are as follows;
| Parameters | Short Sale | Foreclosure |
Meaning |
The term "short sale" refers to any real estate transaction in which the property is sold for less than the amount owed on the mortgage. |
Foreclosure is a process where the bank keeps possession of the home after the borrower misses payments. |
Asset Control |
Mortgagor |
Mortgagee |
Initiated and Sold by |
Borrower |
Lender |
I hope this helps:)
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What is a short sale vs foreclosure?
Sahani
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4 Year
2022-06-24T10:43:00+00:00 2023-06-07T20:04:41+00:00Comment
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