Im 17, when i get older i would like to buy a house. However, i don't understand anything, i see words like bank owned, short sales, foreclosure, redemption, trustee. I have no clue as to what any of this means, i feel like the safest way to buy a house is if its bank owned but bank owned house are usually most expensive, foreclosures seem pretty decent, i think that means that the previous owner couldn't afford it and stopped paying for it, also i don't understand what a mortgage is and stuff like that, could anyone please easily explain this to me. The whole process and what to look out for and what I'd have to do.
Read more: Can someone teach me about buying houses, what these words mean, and other stuff?
