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House Hunt: Homes Available as Short Sales, Foreclosures

Patch has a round up of homes on the market in St. Louis and St. Charles counties.

Patch goes on a hunt for homes for sale in the area every week.

This week, we’re spotlighting homes for sale that are short sale opportunities.

A short sale is a real estate transaction in which the proceeds from selling the property are less than the original loan against the property, according to the US Department of Housing and Urban Development. The property owner cannot afford to repay the liens' full amounts, and the lien holders agree to release the homeowners of their loan on the real estate and accept less than the amount owed on the debt. It prevents a total loss for the bank and the homeowner by preventing a foreclosure situation.

Click the links below to view photos of each house compliments AOL Real Estate.

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