Short sale vs. Foreclosure: What’s the Difference? Though both short sales and foreclosures provide financial relief to homeowners who are unable to make their mortgage payments, they are two entirely different processes that result in significantly different consequences for the homeowner. Initiated by the lender, rather than the borrower, a foreclosure is the lender’s last […]
A short sale is when a financially distressed homeowner sells their home for less than the amount that they owe on the mortgage. In this case, all the proceeds from the sale go directly to the lender, and they either (1) forgive the remaining balance or (2) get a deficiency judgment, which requires the homeowner […]
What is an Open House? An open house is a scheduled time set for potential buyers to walk through a property that is for sale. Typically hosted by a broker, the owners or renters of the property are absent from the viewing and many potential buyers are welcome to tour the space. How Does it […]
What is an HOA? A HOA, or Homeowner Association, is an organization that oversees or manages a private community or subdivision. Run by a board of directors, made up of its community members, a HOA enforces rules and guidelines to be followed within the community, as well as provides upkeep and maintenance of facilities. Where […]
