Buying Distressed Homes: Foreclosures, Short Sales, REOs

In an recent article published by Elizabeth Weintraub, Foreclosures, short sales and REOs remind me of, "Lions and tigers and bears, oh, my!" The latter are dangerous animals but different from each other -- just as foreclosures and short sales and real-estate-owned (REOs) are distressed sales but different from each other.

To read more: http://homebuying.about.com/od/4closureshortsales/qt/04074clshslreo.htm