Real Estate Short Sales

RSS Short Sales

  • Real Estate Prices in Napa Valley Continue to Rise
    The adjusted average sale price of an area home went from ... In report by Zillow real estate data service, the median price of a Napa County home is still a bit short compared to the pre-recession levels. In November 2005, the median price for an area ...
  • Dubai real estate deals total $35.1bn in H1
    Dubai Land Department said on Monday that the total amount of real estate transactions in Dubai ... and can formulate effective strategies in the short and medium-term to meet the needs of the sector." Sales and mortgages relating to land transactions ...
  • On the House: The shifting residential real estate landscape
    The Counselors of Real Estate is a group of 1,000 individuals ... An interest-rate rise could spur short-term commercial development and slow home sales, but rising rates will cause higher mortgage payments, thereby decreasing home buyers' choices.
Real Estate Short Sales

RSS Commercial Real Estate

Breaking News

RSS New Home Builders

  • Manchester’s new HOME
    HOME, Manchester’s new cultural destination for international contemporary ... across HOME so that the building can be used independently, if required. Wates Construction was the main contractor on HOME, with BuroHappold Engineering responsible for ...
  • June Sees Uptick in Mortgages for New Homes
    Mortgage applications for new home purchases rose slightly in June compared to the previous month, driven by a continued recovery in home prices, according to the Mortgage Bankers Association (MBA). Applications for new home purchases increased by 1% in ...
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.

read more...
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

  • Associate Broker Merry Silbaugh Has a CARLOAD of Integrity
    To combat such instances and find a reputable agent, Merry suggests finding licensed real estate agents that are bound by law to uphold a standard of care set forth by the Arizona Real Estate Commissioner, what is referred to as CARLOAD. The acronym stands ...
  • Realtors see growing need to be tech savvy
    Although Open Door is a brokerage and is fully licensed to deal in real estate in Arizona, it is a software company at heart. Operating almost completely online, the company buys homes from homeowners, touches them up to near-mint condition and puts them ...