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• sale when the servicer allows the homeowner to list and sell the mortgaged property with the understanding that the net proceeds from the sale may be less than the total amount due on the first mortgage. Also referred to as a “short sale.”

  Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program - Cite This Source - This Definition
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  Cite Definition for Pre-foreclosure

  American Psychological Association (APA)

  Pre-foreclosure. (n.d.). Making Home Affordable Glossary. Retrieved April 1, 2023, from website: http://www.expertglossary.com/definition/pre-foreclosure.

  Chicago Manual of Style (CMS)

  Pre-foreclosure. www.makinghomeaffordable.gov. Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. http://www.expertglossary.com/definition/pre-foreclosure (accessed: April 1, 2023).

  Modern Language Association (MLA)

  "Pre-foreclosure." Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. 1 April. 2023 http://www.expertglossary.com/definition/pre-foreclosure.

• Browse Related Terms: Closing, Deed-in-Lieu of Foreclosure, fee, Foreclosure Prevention, HAFA Short Sale, Pre-foreclosure, Servicing transfer, Short Sale