|
| |
foreclosure: Short Sale - Buyer & Broker Beware! - 09/28/07 01:10 PM
Recently, more short sale properties have come on the market. A short sale is a situation where a property seller needs to sell and the sale proceeds are not sufficient to pay off the existing mortgage. It is an alternative to foreclosure. The term short sale or short pay refers to a process whereby the mortgage company must agree to a reduced payoff in order for the sale to take place. All sale costs must be included and the seller receives nothing, except debt relief and not having a foreclosure on their credit record.
If you're a prospective buyer on such a … (0 comments)
|
foreclosure: Buying Bank Owned Properties (REO) - 09/28/07 10:54 AM
So you'd like to buy a bank owned property?
You've watched the late-night infomercials and you're ready to do the bank "a favor" and take a problem off their hands. Plus, you expect to make "a killing" in the process. Sounds great and it might just happen, but first you should take a look at some facts and get prepared.
REO vs. Foreclosure
An REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction. You see, most foreclosure auctions do not even result in bids. After all, if there was enough equity in the property … (2 comments)
|
foreclosure: Your Home's Value is Less Than the Mortgage! - 09/28/07 10:24 AM
For a variety of reasons, it is possible that the total debt on your home may be more than what the home is worth. Most of the time, this isn't a problem because time is the solution. Depending on how much you owe, just wait it out and the value of your home goes up. This solution does not work for everyone though, because some folks are stuck in a situation where they absolutely have to sell their home. This can happen for many reasons, some good and some not so good: relocation, financial hardship, divorce, death, illness, etc.. The result … (0 comments)
|
|
|
|
|
|
Jayson Davis
Corona,
CA
More about me…
America One Mortgage and Realty
Office Phone: (951) 277-3346
Cell Phone: (951) 368-7834
Email Me
 Links
Archives
|
|
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2012 ActiveRain Corp. All Rights Reserved
;)
;)