Real Estate Short Sales

RSS Short Sales

  • Kasey and Brooke Hinchman rebuild doubles value of Santa Cruz property
    Ruth Bates, an agent with Thunderbird Real Estate, said her clients bought a three-bedroom home he renovated on Arden Avenue in Ben Lomond. “He did an excellent job,” she said. Flaniken bought the home in June for $415,000 as a “short sale,” where ...
  • Top 10 real estate tips for 2015
    Here are 10 tips for 2015 to help the real estate process. Do sweat the small (cheap ... Banks already use “big data” to gauge the worth of foreclosures and short sales, and mobile apps now offer it for consumer and agent use. Ask agents if they ...
  • Hattiesburg real estate market holding strong
    The Hattiesburg-area real estate market ... buying a little more property,” Stroo said. “A little nicer home, a bigger lot or more square footage. So even though we sold approximately the same number of houses, the volume of sales was up.”
Real Estate Short Sales

RSS Commercial Real Estate

  • Zillow’s Secret Real Estate Hacks
    I’m really worried about the cyclicality of it. The promise that crowdfunding provides is for a doctor or lawyer who wants to put part of her nest egg in residential or commercial real estate—it’s very difficult to do so because it’s illiquid and ...
  • High-end residences drive $600 million in sales for 2014
    Steamboat Springs — High-end residential and large commercial sales drove the recovering real estate market in 2014, resulting in the highest gross volume in transactions for the year since 2008. The year finished with just less than $600 million in ...
  • The New York City commercial real estate market posted record gains in 2014
    It was a five-alarm year for the New York City commercial real estate market in 2014. More properties were sold in the five boroughs than ever before, while the value of those deals soared by an average of 20%, according to a new report by commercial ...
  • Commercial real estate transactions
    A Texas investor purchased the 29,897-square-foot Lake Forest Crossing shopping center at McKinney Ranch Parkway and Lake Forest Drive in McKinney. David Disney and Adam Crockett of Disney Investment Group brokered the sale by Los Angeles- based Westwood ...
Breaking News

RSS New Home Builders

  • Home builders encouraged by good start to 2015
    You can see that at the HBA Home Show this weekend. Charlyce Ruth, the CEO of the Home Builders Association, said, “More exciting displays, a lot of brand new products and the traffic has been tremendous.” Wall to wall--aisle after aisle- of anything ...
  • $355K Quick Delivery Home: East of Route 1
    While traveling from the Lessard Builders model home in the Villages of Five Points ... If you lived at this Milton new home construction development, Osprey Landing, you can travel down Oyster Rocks road in biking, walking or driving distance you ...
If you owe more on your mortgage than the fair market value of your home and want to sell it for what ever reason, then you must short sale.

Your mortgage lender may, but is not obliged, to agree to accept a mortgage payoff that falls short of the balance that is owed originally. In other words, a bank agrees to accept less than what is owed on a borrower’s mortgage

A short sale does not always make the remaining balance due “disappear” unless specifically agreed to by the lender. In the past and in some states, the borrowers could remain legally and financially responsible for the balance amount. However, a foreclosure can be avoided through the short sale process, which is the primary goal so that the borrower’s credit is not as severely damaged as it would be through a foreclosure.

If a foreclosure is imminent, a short sale can help soften the blow and give the home owner more time to straighten out their finances and personal credit.

A foreclosure can put a serious black mark on a person’s credit. It’s a forever thing. If you go the foreclosure route and wanted to buy another property, you must disclose to the lender on your loan application, every time, forever. The stress that the foreclosure process can cause, most homeowners are willing to consider just about any alternative. The worst thing that a homeowner can do is nothing at all. By being proactive, a borrower can often find viable alternatives to foreclosure and a short sale is one of the most popular and realistic options because for those who are facing the prospect of a foreclosure, a short sale might be the right option. Loan modification may not be the best option either when facing foreclosure for most people because of the mere fact they are upside down on their mortgage.

Real Estate Short Sales
Real Estate Short Sales
There are many types of loans that are secured by real property. These may be purchase loans, refinanced loans, home equity loans, or one of the various other types of loans. The type of loan and type of property will determine what remedies a lender may have if the homeowner fails to make the agreed upon payments. The available remedies, the homeowner’s overall current or potential future financial strength, the lender’s cost in acquiring the loan and any shared loss or similar agreement if the loan was acquired by purchase or merger, are some of the many factors that the lender may consider in deciding how to proceed when a loan is in default.

California Real Estate

California Forclosures

Debra Gruszecki reporting California and an Inland region rocked by mortgage distress failed to make the Top 10 list of places with the most foreclosures in March…

Florida Real Estate

Speed Up Florida Foreclosures

Florida’s Senate Banking and Insurance Committee this week approved legislation that would speed up the state’s foreclosure process, a move that would remove some protections for homeowners…

Georgia Real Estate

Georigia Foreclosures

Douglas County is no longer the foreclosure capital of Georgia according to Ron Daniel article. After two straight months at No. 1, Douglas County dropped to eighth…

Illinois Real Estate

Illinois Foreclosures

Foreclosure activity in Illinois slipped 2 percent in the first quarter from the previous quarter and fell 4.5 percent from a year ago, but the state’s foreclosure…

Maryland Real Estate

Maryland foreclosures

Old Town Manassas, once the face of the Washington region’s foreclosure crisis, is now enjoying a resurgent housing market despite the weak economy. Taylor Holland article continues…

RSS Other Real Estate News