A "short sale" is a coordinated arrangement between a homeowner and a lender that allows a proactive homeowner in financial distress to sell the home for less money than is owed prior to a foreclosure action.
“Foreclosure” is the process whereby lenders can unilaterally accelerate the sale of your home using the property as an asset of collateral determined by the "Deed of Trust" or another like instrument generally signed at the closing of escrow.
