If you're contemplating between purchasing a short sale or a home in foreclosure, you'll find the foreclosure option a more challenging one. A foreclosure occurs when the lender decides to execute their legal right to force the sale of a home when the owner defaults on their loan payments. In today's upside down bank and mortgage industry, you'll find a surge in the number of foreclosures hitting the market - creating new opportunities for homebuyers searching for a real estate bargain. All communities, from the high end luxury homes down to the most inexpensive ones, are susceptible to foreclosure.