The answer is very simple. All of these are foreclosures! They are each at different stages of the foreclosure process. Foreclosures is a term commonly used to describe properties that are in the foreclosure process.
Preforeclosures are properties that are in the foreclosure process but before the Trustee Sale and consist of short sales, NOD, and distress sale properties. Bank Owned and REO properties are at the stage of the process after the Trustee Sale when the property is waiting to be resold.
Here are some more questions you may have:
When is the best time in the foreclosure process to buy a home?
What exactly is a short sale and why would I want to do one?
How long does foreclosure take and what are the steps?
Do I really want a foreclosure?
What are the advantages and disadvantages of foreclosures?
Where and how do I find the best deals?
Stay tuned to this blog for answers to these questions and more!
or Call Don Smith at 408-836-6931 for Foreclosure help anywhere in the SF Bay Area.
Take Care!
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