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Short Sales, Foreclosures, & Bank Owned / REO Properties – What’s The Difference?

I received a question last week on Trulia.com asking about the difference between a bank owned property and a foreclosure.  These terms can be confusing to those who are not in the business, and even for some of us in the business.

Here’s a short video explanation of the differences between bank owned properties, foreclosures, and short sales and how they are all related in the end.  Feel free to add comments or ask me any questions.

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