Emily Schuyler Realtor® e-PRO's Blog

  For those of you unfamiliar with the term REO, it is an acronym for Real Estate Owned.  These properties may also be referred to as bank owned.  When a borrower defaults on their mortgage payments, the lender(s) will start the foreclosure process, which starts with the notice of default (NOD). ...

 What is a short sale?   This term is being used more and more often in today's market.  For those of you who are unfamiliar with the term, a short sale is when a homeowner is trying to sell their home for less that what is owed.  The homeowner has a hardship and they may find themselves unable t...