Lisa & Matt Lucky, PC
Associate Broker
Top One Percent
602-320-8415
480-390-0445
Lucky@RussLyon.com

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Find Your North Scottsdale Home - Get "Lucky" In Real Estate - Lisa and Matt Lucky

Canada Ridge Homes For Sale

North Scottsdale subdivision in the Pinnacle Peak area.

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Updated Sun May 20, 2012 6 AM.

Here is a list of definitions often used to describe Distressed Properties.

Definitions
	Short Sale	The "short" in short sale actually refers to the fact that the payoff amount agreed to in the transaction is "shorter" than the mortgage balance on the property. Simply put, there is more owed on the home than it will sell for.
	Pre-Foreclosure	The owner is attempting to sell the property during the pre-foreclosure period, before the foreclosure can be completed. The term pre-foreclosure or preforeclosure is that period between when the lender files a foreclosure notice of default in the public records (Lis Pendens) and the date the property is to be sold at public auction or trustee's sale. Often lenders are taking back properties instead of holding the public auction or trustee's sale.
	Lender Owned	Lender owned is just what it sounds like. Also called REO, which means real estate owned, or bank owned.

Russ Lyon - Since 1947 - Our name is synonymous with fine properties. Lisa & Matt Lucky - Enjoying the North Scottsdale Lifestyle since 1997. North Scottsdale Relocation Specialist. Licensed in Arizona - Focused on North Scottsdale.

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