Short sales are complicated and many short sale transactions fail. According to some estimates, 49.4% of short sales fail, compared with 17.9% for foreclosures and 13.1% for traditional sales. Yet there are benefits to having a short sale as opposed to foreclosure or deed in lieu where the bank recovers
Category: Short Sale Process
Borrowers owing more than the worth of their homes have the opportunity of getting out from under. They are allowed to negotiate a short sale with their lender. However, short-sellers are often regarded as higher-risk borrowers. As a result of this, they find it hard to secure new loans. What
Real estate stats have always shown home sales rising during summer and spring but dwindling during winter and autumn months. If you’re still on the fence about listing your home before the winter months, you may need to act fast because of the following reasons: Equity advantage Due to recent
Marketers of any kind of product know how important it is to understand the needs of their clients. The needs could be generic or specific depending on the type of product. Looking at a home as a product, you’ll understand that buyers of different age groups seek different things in
Mortgage uncertainties are currently the order of the day for homeowners as speculations have arisen that mortgage rates are likely going up while others believe they’re coming even lower. For many defaulting homeowners, 2009 offered the saving grace with base rates which many homeowners found favorable. But this is changing
The “loan modification” is a restructuring of mortgage payment, specifically with regard to the reduction of principal and interest on the interest rate, with the aim of getting an affordable monthly mortgage payment on the basis of your current financial status. Essentially, at the end of a successful mortgage modification,
It’s no news that the short sale process can be a long process. Many buyers at this time get tired of waiting and would threaten to cancel if they do not get answers within a specified time. This doesnâ€™t help matters and doesnâ€™t help make the process simpler or faster.