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foreclosures: 5 Ways to Increase your Short-Sale Closings - 03/11/07 10:34 PM
The first thing I should mention is that you shouldn't let any lack of experience in this area hold you back or intimidate you. In the preceeding 10 year period of booming real estate valuations record-low interest rates, short sales just weren't as common as they will be in this era of tightening credit guidelines and major lenders collapsing like so many dominoes. Their was no incentive for a foreclosing bank to agree to a short sale if they could wait it out, take the house back and sell it to recoup their investment completely. Now, with mounting foreclosures and record-high … (32 comments)

foreclosures: Colorado Springs Real Estate - 02/06/07 08:56 PM
 
The real estate market in Colorado Springs is, contrary to recent headlines, in excellent shape. The much-hyped factoid that Colorado is leading the nation in foreclosures is due directly to our "deed of trust" and Clerk & Recorder process. When someone fails to pay their mortgage (or deed of trust in this state) the law compels the Clerk and Recorder to initiate the foreclosure process immediately. The process will likely take another 4 to 6 months, and the property will likely be sold or "redeemed in this period, but nonetheless it is counted as a foreclosure. In other states, the mortgagor … (1 comments)

 

Jose Luis Ramirez

Colorado Springs, CO

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5 Star Mortgage, Llc

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Jose Luis Ramirez's ramblings on mortgages, real estate, the Colorado Springs market, and other simple thoughts that pass through the mind.


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