Hearthside Happenings

Short Sale vs Foreclosure

What's the difference between the two?
Posted by Rebecca Nutt on August 27, 2018 in  Foreclosures  homes  Short Sales
As unfortunate as it can be when homeowners fall behind on mortgage payments and must face the possibility of losing their homes, short sales and foreclosures provide them options for moving on financially. The terms are often used interchangeably, but they’re actually quite different, with varying timelines and financial impact on the homeowner. Here’s a brief overview. A short sale comes into play when a homeowner needs to sell their home but the home is worth less than the remaining balance that they... read more
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