A short sale may have legal, credit, and/or tax consequences. There are several alternatives to a short sale. These other options …
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For homeowners who are struggling to pay their mortgage and owe more on their mortgage than their home is worth, a real …
Foreclosure is a legal procedure in which property pledged as security is sold to satisfy the debt. A mortgage lender’s rights can be enforced through foreclosure if the borrower defaults …
We’ve described many of the benefits of a successful short sale. Now we’re going to make you aware of many of the legal issues associated with short sales. Consequences of …
FHA Pre-foreclosure Sale Program FHA provides mortgage insurance on loans made by FHA-approved lenders. FHA is the largest mortgage insurer in the world. FHA became part of the Department of …
1.) During a Short Sale Process, neither the seller nor the lender is likely to make repairs to the property. Many short sale properties have deferred maintenance, as the seller …
Will My Bank Allow Me To Do a Short Sale if I’m Current on My Mortgage Payments? Not all short sales involve sellers who are delinquent on their mortgage. Some …
In many cases, it is wise for a homeowner to stay in their house. Many people who are behind on their mortgage payments have an unfounded fear that they will …
Short sales are often referred to as long sales. Many sellers, buyers, and real estate agents find that short sales may take much longer than initially expected. 1.) The seller …
Why a buyer should wait until they have short sale approval before conducting home inspections? If the buyer’s offer price is not approved by the seller’s mortgage lender, then …
In most cases, a mortgage lender will continue the foreclosure action even though they are negotiating a loan modification or short sale with the borrower. Just because someone is working …