With the record number of foreclosures resulting in record number of people looking on the
internet for help in avoiding or stopping foreclosure, there has to be a mixture of terms that
people do not understand. Short sale foreclosure is one such term.

Actually, there is not such thing as "short sale foreclosure". But the terms are related. Here's how.

Foreclosure is the legal process which a mortgage lender uses to take possession and ownership
of a home where the borrower (home owner) has not made his monthly mortgage payments.
Foreclosure is sort of like car repossession when someone has not made his car payments.
However, there are a lot more legal steps to take.

A person facing foreclosure has to pay the mortgage lender in order to stop or avoid foreclosure,
but there are options on how to pay. Unfortunately, not every option is available in every
situation. For example, a mortgage lender may be willing to delay a payment, but the borrower
may not be able to make the payment even if it is delayed.

One option that is available sometimes is a short sale. A short sale is when a borrower sells his
home for an amount short of the actual amount owed on the home loan. For example, a person
may actually owe $100,000 on his home loan. The lender may accept $95,000 if the borrower
sells the home.

Lenders are not required to accept short sales because they will receive less than the actual
amount owed on the home loan. However, because of the cost of foreclosure, cost of maintaining an empty home, and the unknown time and price to sell a home, a lender may be willing to
accept a lesser payoff. It may save the lender money.

In summary, there is no such thing as short sale foreclosure. Short sale is an option that is
available in some cases to avoid or stop foreclosure.

This article is general information. If you have any questions of any nature about avoiding
foreclosure, talk with a lawyer licensed in your state.

This article may be republished, but the wording must not be changed and the author links below
must remain active.

More info on your stop foreclosure information search:

Get Free Foreclosure Advice and Free Refinance Quotes
Get your free on-line foreclosure refinance quote and free advice from foreclosure mitigation specialist in minutes. Compare real offers from top national subprime and hard money lenders... more...

Foreclosure Victims Helping Foreclosure Victims
A number of the homeowners that we talk to everyday are motivated by two main goals. The first, obviously, is to save their home from foreclosure, avoid potential scams, and get their financial lives back to normal. Teaching homeowners how to do each of these is the main purpose of our website, ... more...

Master The Mechanics Of Foreclosure - The Key To Being Effective In Pre-Foreclosure Investing
To confidently compete in the pre-foreclosure arena, every investor must master the mechanics of foreclosure. The events of foreclosure, the timeframes, the disposition of the proceeds of sale, and the effects of the sale ? these are all important landmarks in navigating through the foreclosure ... more...

Summary Of Vermont State Foreclosure Law
There are four different type of foreclosure are followed in Vermont. Strict foreclosure Power of sale foreclosure Judicial foreclosure Non-Judicial foreclosure What is the processing period for foreclosure in Vermont? Processing period is normally 210 days (Approximately 7 months) in Vermont. Is ... more...

Home Forclosure Help
9 tips for home foreclosure help Here outlined for you are nine things you can do if you want or need home foreclosure help. Home Foreclosure Help Tip #1. Make sure you have in place a Home Equity Line of Credit. For this home foreclosure help tip remember that if something comes up forcing you to ... more...