The housing market is still in distress. However, more homeowners are opting for Short sales, where the banks discount the value of the note in order to resell the house rather than foreclose. Short sales well outnumbered foreclosures in twelve states in the month of January. It seems homeowners have found a better, easier and less damaging [...] Read more »
What Does Short Sale Mean For Real Estate?
The real estate market is going through a very unique phase. Foreclosures are at record levels the past 5 years. Nominal home prices have dropped by $75,000 over the past 6 years from their 2006 high. Mortgage loans are at an all time low. Real unemployment has been around 20% for years now. And nothing [...] Read more »
What is a Short Sale in Real Estate?
What is a Short Sale in Real Estate? Many investors and homeowners alike ask themselves, “What is short sale in real estate?” Its not that most folks out there haven’t heard the term, they may just not know exactly what it entails or the pros and cons of performing a short sale. In practically every [...] Read more »
Short Sales Vs Foreclosure
Short Sales vs Foreclosure If you’re in deep economic crisis, don’t provide both hands and allow the loan provider take all of the choices in your account. You will find the to know everything about short sales vs foreclosure. This in-depth comparative analysis will help you take an educated decision to get rid of your [...] Read more »
Are Short Sales Worth the Trouble?
Short sales occur when the investor negotiates with the bank a discount, or 'short' of a real estate note where the home owner is behind on payments and owes... Read more »
Mortgage Assistance Relief Services Disclosures
What disclosures must I make to be in compliance with the Mortgage Assistance Relief Services Disclosures? The Mortgage Assistance Relief Services Rule was recently passed by the Federal Trade Commission with the intent of protecting distressed home owners from unscrupulous Loan Modification Companies who would take the struggling homeowners’ money based on promises that they could not [...] Read more »
New Short Sale Law to Protect Homeowners From Deficiency
New Short Sale Law to Protect Homeowners From Deficiency took affect in California on January 1, 2011, which will protect the homeowners from being sued by the banks when the home owner loses their house via short sale or foreclosure. Read more »
Hardship Letters for Short Sales
Simply put, hardship letters are short letters that explains what has happened to the borrower or what has changed since the borrower purchased the property, and why they are no longer able to afford the property. Good hardship letters are short, sweet, to the point, and explain the situation such a way that the even a bank employee can understand and empathize. Read more »
Short Sale Swaps – Solution to Foreclosure Problem?
Short sale swaps are where unrelated and distant neighbors, each heavily underwater, agree to “swap” (buy) the others home through bank approved short sales. According to Michael James Donald, conditions exist for short sale swaps as a rapid resolution of the huge “negative equity” problem that has been the major impediment to a housing recovery. Read more »
Bank Of America and The Continuum of Short Sale Madness
Bank Of America | Short Sale Fiasco It’s been at least a day since I wrote something on Bank of America, and stories continue to come out of the woodwork about all the short sale madness surrounding them. I read an article today in the Herald Tribune about an Australian couple that moved to Florida [...] Read more »
