Below a list of REO & Short Sale properties.
REO stands for Real Estate Owned. REO is a term that describes the property owned by a bank who has foreclosed on a home owner. That property is in Real Estate Owned by the bank.
A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property and the property owner cannot afford to repay the liens’ full amounts, whereby the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt. Any unpaid balance owed to the creditors is known as a deficiency. Short sale agreements do not necessarily release borrowers from their obligations to repay any deficiencies of the loans, unless specifically agreed to between the parties.
A short sale is often used as an alternative to foreclosure because it mitigates additional fees and costs to both the creditor and borrower; however both will often result in a negative credit report against the property owner.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS®, but is not warranted.
SFAR (San Francisco) data last updated at November 23, 2017 4:58 AM PT
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