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Foreclosure is a legal process in which a bank attempts to recover the balance of a loan from a borrower who has stopped making payments by forcing the sale of the home. A short sale is a sale of the home in which the proceeds from selling the property will fall short of the balance of debts when the property owner cannot afford to repay the liens’ full amounts and where the bank agrees to release their lien on the real estate and accept less than the amount owed on the debt. A deed in lieu (DIL) of foreclosure is a deed instrument in which the home owner gives all interest in the property back to they bank to satisfy a loan that is in default and avoid foreclosure proceedings.