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A short sale or preforeclosure is part of the foreclosure process. A short sale or preforeclosure is that step in the process where the lender has begun the foreclosure process after making effort to notify the home owner  that their contract has been neglected and needs to be paid. If the home owner has not responded to the lenders repeated requests, the process can then proceed to the short sale or preforeclosure step in the foreclosure process. Government agencies keep track of foreclosures very closely.