 Articles tagged: Short Sales
<< previous page 1 next page>> written by Jose Azcarate Azcarate
Foreclosures continue in South Florida as the financial debacle expands to multiple industries. In 2008, Broward county foreclosures have now exceeded 4,200 homes. These numbers are expected to climb until the middle of 2009 when adjustable rate mortgages cease to adjust written by Dwan Bent-Twyford
What is all the fuss about short sales? Everywhere you turn, there is another seminar, another guru, or another boot camp all teaching the same thing. Can so many people be right? written by Carol Freyer
A short sale can do much less damage to one's credit rating than an actual foreclosure can. This is a huge benefit for sellers because the black mark of a foreclosure can seriously affect a person's ability to rent property, obtain credit cards, or be approved for loans of any kind. written by Terry Trexler
For a quick sale, you need to make your home look better than the competition. When I look through pictures of real estate online, I see so many pictures of messy rooms. written by Mark Zawaideh
If you are in a position where you are forced to move, say by job transfer or because of health and clinic attendances, and you cannot sell your home, what can you do? written by Richard Geller
Did your mortgage lendercommit violations of the law when they made your mortgage? Can you get them to reduce your loan, or stop foreclosure? written by Scott Baxter
Now that banks are having to repossess homes from delinquent mortgagors, some buyers are asking, "should I buy a bank owned property"? Even with years of real estate experience and knowledge, the best answer here is still: "It depends." Shopping around and knowing the particulars of each sale are still vital as they can vary widely from one house to the next. written by Dale Rogers
The front pages are dominated with stories of the foreclosure onslaught. Those who can be helped out of their situation now have some options, which didn’t exist a few years ago. Some borrowers are so far gone with their financial situation, many times based on circumstances perhaps out of their control, the only answer may be to try a “short sale” (where the lender will accept less than what is owed), “deed in lieu of foreclosure” (where the borrower gives back the property to avoid foreclosure) or sell it (if the borrower has some equity) or allow the foreclosure proceeding to go to it ultimate conclusion. If the borrower has committed to staying in the property and fighting through the difficult period of pending foreclosure many lenders and their servicing agent are offering possible solutions. written by Dale Rogers
Unlike previous down mortgage cycles, lenders are pulling out all the stops to blunt foreclosures. From the use of computer models focusing on customers that “might” fall down together with a lender commitment to slow down any borrower from falling into a non-performing loan. So if a borrower is say two days late from a normal payment pattern, customer service is on the phone to find out what is going on. Options may range from refinancing the loan with different payment terms or even consider a short sale (settling for less than what is owed) if the borrowers are selling. With many homeowners’ just packing up and leaving after not being able to sell many lenders are trying to perform an intervention before the borrowers panic and disappear. With a slow resale market lenders are not setting back and waiting for payments to get down three or four payments. << previous page 1 next page>> |
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