From wsj.com
Financially troubled borrowers may think that foreclosure or a short sale of their home means their mortgage woes are over. Not necessarily.
Some homeowners are finding that when they sell their homes for less than the outstanding mortgages - a so-called short sale - their mortgage companies are going after them for some or all of the difference. Mortgage companies are also sometimes taking legal action to recover unpaid amounts after a foreclosure is completed.
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Learning about real estate also involves knowing what areas are going for and being able to calculate what a property is worth. This comes from years of knowledge and you can add this valuable tool to your arsenal by doing research. You should try to view as many properties as you can and start learning how to judge there worth.
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