Real Estate Short Sales

RSS Short Sales

  • Sales of problem mortgages drop to lowest level in nearly seven years
    real estate analytics firm CoreLogic Inc. said. The sale of bank-owned houses generated 7.2 percent of sales, and short sales made up 4.2 percent. In a short sale, houses are sold at less than their appraised value or their loan value. At its peak in ...
  • Home sales down in July
    according to figures released separately today by Midwest Real Estate Data. Meanwhile, sales of non-distressed homes — those that aren't foreclosures or short sales — continue to represent a bigger share of the market. Such sales made up just over 79 ...
  • Cash Property Sales Trending Down
    Real estate owned (REO) sales had the largest cash sales share in May at 55.5%, followed by re-sales at 34%, short sales at 32.8% and newly constructed homes at 16.8%. While the percentage of REO sales that were cash transactions remained high, REO ...
Real Estate Short Sales

RSS Commercial Real Estate

  • Commercial Real Estate, There's Now Software For You, Too
    It’s time for commercial real estate to get the tech startup treatment, ready or not. New York startup Hightower is raising cash fast to roll out its software that the company claims can finally improve the workflow of the insulated and arcane world of ...
  • Hightower Raises $6.5M Series A For Its Commercial Real Estate Platform
    Hightower, a “command center for commercial real estate,” today announced that it has raised a $6.5 million Series A round led by its existing investors Bessemer Venture Partners and Thrive Capital. Previous investors RRE Ventures, Red Swan Ventures ...
  • Monarch Bank expands commercial real estate lending to Richmond
    While Chesapeake-based Monarch Bank has mortgage offices in Richmond, it is now adding commercial real estate lending to the area, Inside Business reports. Monarch hired Andy Proctor, owner of Atlantic Mortgage and Investment Co., to conduct the commercial ...
  • Commercial real estate data startup Hightower raises $6.5M
    What’s more Silicon Alley than a data-sharing app for the commercial real estate industry? Manhattan-based Hightower, an online platform that lets institutional owners and their brokerage teams share internal leasing data, announced Thursday that it has ...
Breaking News

RSS New Home Builders

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.

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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

  • Aurora man indicted for alleged role in Arizona real estate development scheme
    An Aurora man was one of two people indicted on Wednesday, Aug. 20, for defrauding about 60 people out of more than $6.5 million through an Arizona real estate development investment, federal law enforcement officials said. Stanley M. Paulic of Aurora and ...
  • What $1 Million Buys You In Phoenix, Arizona
    A million bucks can buy a lot of things, including a four bedroom, 4,700 square foot ranch style home on the Moon Valley Golf Course in Phoenix, Arizona. If you were to compile a list of top metropolitan areas hit by the real estate bubble in 2007 and ...