Should you opt for a short sale or a foreclosure? As a homeowner faced with a difficult situation, there are pros and cons to each. Generally, a short sale will work more in your favor. As a homebuyer ...

A short sale involves selling a property for less than the mortgage owed with lender approval. A foreclosure occurs when the lender takes ownership of the property due to the borrower’s failure to ...

At first glance, a foreclosure and a short sale can seem similar. After all, they both occur when you're having trouble covering the costs of owning your home. However, if you're facing one of these ...