Investors & Licensed Agents: Understanding the preforeclosure market

Let me preface this by saying that even though New Jersey allows for deficiency judgments the state statute actually frowns upon deficiency judgments. Consider the case law below. Correct me if I am wrong but the majority of mortgage companies provide for short sales it appears because they woul...

Real estate investor glossary of terms: Preforeclosure sale: Buying a property in preforeclosure involves approaching the borrower or homeowner and offering to buy the property outright. The borrower/owner can walk away with the equity in the property and avoid a foreclosure or sometimes a “char...

My next few posts will be entries to a glossary of useful real estate investor terms. Please feel free to add terms, comment on definitions, and/or give examples. As always I welcome constructive feedback. Lis penden: (1) Latin for "a suit pending." The term may refer to ANY pending lawsuit. (2)...