PRE FORECLOSURE

Pre-Foreclosure - As the part of the word "pre" suggests before the word foreclosure, pre-foreclosure is any time before the Judgement of foreclosure is entered and the property is sold at auction.  Now this depends on how one defines foreclosure?  Some have written that foreclosure is the whole process and other have written that foreclosure or being foreclosed occurs when the auction gavel slams and the property is sold.  Even other say that pre-foreclosure is the moment right before a judgement is entered against the home owner. 

I have understood and use the word pre-foreclosure to mean that place and time where the home owner lose possession and control of the property.

Short sales, modifications and other avenues of preserving your home ownership are all within the scope of pre-foreclosure.

So Pre-Foreclosure is just that, all parts before the foreclosure is completed.  It is used in terms of a pre-foreclosure sale to create urgency and hyped marketing on certain properties that may or may not be faced with foreclosure.