What is a Short Sale?
A short sale occurs when a home owner can no longer afford to pay the mortgage and must sell quickly to avoid a foreclosure. In a short sale, the lender allows a home to sell for less than what is owed.

What is an REO (Bank Owned Home)?
REO stands for "Real Estate Owned" by the bank. When a home is foreclosed the bank takes possession of it. In order to cut losses, the bank sells foreclosed properties on the market. We call these listings REOs.

Learn more about Short Sales or REOs.