Another Foreclosure Alternative HOMEOWNERS on the verge of foreclosure will often seek a short sale as a graceful exit from an otherwise calamitous financial situation. Their homes are sold for less than the mortgage amount, and the remaining loan balance is usually forgiven by the lender. But with short sales beyond the reach […]
FORECLOSURE OR SHORT SALE? WHAT ARE MY OPTIONS? Our clients know what “foreclosure” means: bank takes your home and you leave. In short payoff (the correct term for “short sale”), a buyer is found for your home and your real estate pro negotiates with your lender (or lenders, plural!) until an agreement is reached to […]
Many economists view short sales as a way to address a problem that mortgage relief hasn’t fixed: properties that are “under water,” carrying more debt than the home is worth. Even though it may not be the first and favorable option for most, short sale is the best way to get out of foreclosure. There […]
In 2006, Benjamin Koellmann bought a condominium in Miami Beach. By his calculation, it will be about the year 2025 before he can sell his modest home for what he paid. Or maybe 2040. “People like me are beginning to feel like suckers,” Mr. Koellmann said. “Why not let it go in default and rent […]
If you’re among the many looking to buy foreclosures at auction, don’t have any fear the decline in filings over the past several months will rob you of your chance at a fabulous buy. Home foreclosure filings declined steadily from August through November 2009, but were still significantly higher than they were a year ago, […]
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Short Sale Introduction
Loan Modification -Short Sales-Foreclosures Welcome. Here you will learn how to successfully stop Foreclosure by Short Sale. You will get helpful hints to take the necessary steps to get on the road to recovery on your terms, not the banks. Short Sale 101