Posts tagged as:

short sale

Banks May Pursue A Deficiency Judgment On Homeowners Who Walk-Away Or After A Short-Sale

September 3, 2010

As troubling it is to lose your house to foreclosure, borrowers may still be on the hook for the deficiency amount. It is the difference of what’s owed on the home loan and what the bank could sell for at an auction. “Deficiency judgments” can hurt ex-homeowners years after they have lost their property.

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Home Affordable Modification Program

July 25, 2010

Under the Home Affordable Modification Program (HAMP) mortgage lenders were told to accelerate the review process for loan modifications. Evidently, the applications submitted by struggling homeowners were not being processed in a timely enough manner. It seems these applications were just sitting collecting dust while the threat of foreclosure loomed.

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Short Sale Illegal Kickbacks

June 30, 2010

As lawmakers put new legalities in effect to reduce mortgage fraud, there is a new type of mortgage fraud being done discreetly by agents from larger banks. On Jan fifteenth 2010, CNBC real estate columnist, Diana Olick produced an alarming story about short-sales and mortgage fraud performed by agents working for larger banks.

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Learn The Way To Arrange A Short Sale

December 3, 2009

Many people wait until they are very close to the end of the foreclosure process before they learn how to negotiate a short sale. If at all possible, you should not wait this long. The short sale process is not an over night thing with mortgage companies. The more time you have on your side, the better. As soon as you spot trouble with your mortgage that you will not be able to get out of, you need to take action. Even though the thought of leaving your home may be upsetting, it is better to sell the home than to be forced out because of a foreclosure.

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Consider the Idea of a Short Refi to Save your Home

November 28, 2009

As the economy continues to paste in this slow down, folk are still trying hard to make it day by day, which is leading to an increase in the necessity for a short refi or short sell. This economy makes it particularly challenging for householders to keep current on their mortgage and stop foreclosure. In a number of cases, regardless of the best efforts, a householder could find themselves facing the chance of foreclosure. There are things a home-owner can do to help stop this from taking place and protect their investment. 2 options are a short refi or a short sell.

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Homes Short Sale

November 27, 2009

Many people have heard about the homes short sale process but may not really understand why it is something that they may have to look into at one point in their lives. Learning how to negotiate a short sale could literally save yourself thousands of dollars and a possible foreclosure marking on your credit report.

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