Real Estate Foreclosures, Short Sales, and REOs: Facts and Myths for Consumers

Foreclosures, Short Sales, and REOs are abundant in nearly every real estate market in the United States. What exactly are these types of real estate transactions and how do they differ from other transactions? Although these seem like very straightforward questions, there is significant confusion as to what these terms actually mean and what the unique challenges each transaction type presents to buyers and sellers. The goal of this book is to educate readers on the correct meanings of these terms and help them understand what challenges may be encountered during a transaction involving one of these properties. The final section discusses the effect these transactions have on neighborhoods and communities.