Real Estate Short Sales

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    Realtor says that one way or another it might affect the sale. Other reason why some real estate celebrities properties linger ... just a hundred thousand short from its original price of $16.1 million. Do you have some tips in selling properties ...
  • Queen City home prices climb
    Springfield home prices grew in August, according to data released today by real estate market tracker CoreLogic. During the month, prices that included distressed sales - which factor in short sales and real estate-owned transactions - moved up 2.6 ...
  • Pilot Program in Bankruptcy Selling Houses, Skipping Foreclosure
    Kenneth Welt, senior U.S. bankruptcy trustee for the Southern District of Florida, said strong demand is gobbling up the inventory of distressed real estate sold through ... directly out of bankruptcy court in short sales instead of moving cases to state ...
Real Estate Short Sales

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  • 59 new homes proposed near Twin Hickory in Short Pump
    HENRICO, Va. — More homes are being eyed beside a Short Pump-area interchange that has seen a recent surge in interest from developers. Locally based Duke Development is seeking a rezoning that would allow 59 new homes on a 32-acre tract in the northwest ...
  • How New Homebuyers Finance Their Homes across the Nation
    Non-conventional forms of financing new single-family home purchases remained elevated in 2014, but their use and mix varied widely across the country, according to NAHB analysis of a recent Census Bureau Survey of Construction (SOC) data. In the West ...
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…

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  • Signs of life in Arizona real estate market
    PHOENIX — After years of disappointing performance, there are real signs of life in the Arizona real estate market. New figures Tuesday from the Federal Housing Finance Agency show that home prices overall in the state rose 6.8 percent in the past year.