I am a a beginner in pre foreclosure. this qurestion could be stupid…: I read an article about purchsing preforclousre. it says the term of “subject to” purchse. My understnding is to take over the current loan from seller and hold the title. Is this something different from the SHort sale? or just the first step of a short sell?
thanks a lot
A short sale and sub 2 a different. Your description of sub 2 is just about right. A short sale is when you convince the lender(s) to accept less than they are owed and you have to cash them out somehow. They can be used together sometimes if you could sub 2 the 1st and short sale the 2nd.J