Short Sale Tag

17 Nov Residential Short Sale Can Be A Trap

Underwater loans and a difficult real estate market have made short sale of homes a popular alternative to bankruptcy or foreclosure. However, bankruptcy may be a better option than short sale. Homeowners, trying to do the “right thing” are learning that no good deed goes unpunished. The short sale of homes often causes more problems than it solves. A short sale of real estate means that the property is sold for less than the amount required to pay debts secured against it. This type of transaction requires the cooperation of the primary lender and any other creditors to whom the property was pledged as security. Many lenders and practically all realtors are eager to participate in a short sale. It results in a commission for the realtor and liquidates collateral for the lender. It is the homeowner who often gets the short end of the stick.
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23 Nov Short Refinance For Homeowners?

Short home loan refinancing is not a new concept. Unfortunately, due to tightened credit for sub-prime borrowers, it has not been much of a factor in dealing with the current home foreclosure crisis. However, short refinancing may soon become a realistic option for even those homeowners with challenged credit. Despite possible tax consequences from debt cancellation, this may become an increasingly popular loan modification tool for homeowners. Leave it to American ingenuity, hard work, the profit motive, and government subsidy to make it happen. Short sale has long been a popular resolution for overburdened homeowners unable to make payments on mortgage loans. As values continue to decline, with many properties this is the only avenue for voluntary sale.
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01 Aug Short Sales: Problems and Pitfalls

With foreclosures skyrocketing, many people are looking for ways out of their mortgages. Short sales are often used to avoid foreclosure. They do avoid foreclosure. But do they really benefit you, the homeowner? In many cases, they benefit others, and can leave you and your credit worse off than filing for bankruptcy. Here’s the inside scoop on Short Sales.
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28 Jul Deeds in Lieu of Foreclosure: Problems and Pitfalls

With foreclosures skyrocketing, many people are looking for ways out of their mortgages. Deeds in lieu of foreclosure are often used to avoid foreclosure. They do avoid foreclosure. But do they really benefit you, the homeowner? In many cases, they can leave you and your credit worse off than filing for bankruptcy. Here's the inside scoop on Deeds in Lieu of Foreclosure.
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