Key terms

While working with your mortgage company, it’s important to understand the mortgage terms that may be used so you can have a better (and easier) discussion with your mortgage company.

Short Sale (also called Pre-foreclosure)

The process in which a mortgage company works with a delinquent homeowner to sell the house by a real estate agent prior to the foreclosure sale. The sale price is less than what is owed on the mortgage.

Learn more about Short Sale