roseville short sales: The Process of a Short Sale
- 10/31/09 11:08 PM
In a short sale, the bank or mortgage lender agrees to discount a loan balance because of an economic or financial hardship on the part of the borrower. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. Neither side is "doing the other a favor;" a short sale is simply the most economical solution to a problem. Banks will incur a smaller financial loss than foreclosure or continued non-payment would entail. Borrowers are able to mitigate damage to their credit history, and partially … (1 comments)
roseville short sales: Foreclosure Prevention Options
- 10/31/09 11:05 PM
What Are Your Options? Reinstatement When you are behind in your mortgage and the payments are brought current including any legal costs and penalties and you are permitted to make regular payments then your mortgage has been reinstated. Forebearance or Re-Payment Plan The literal meaning of forbearance is "holding back." Loan borrowers sometimes have problems making payments. This may cause the lender to start the foreclosure process. To avoid foreclosure, the lender and the borrower can make an agreement called "forbearance". According to this agreement, the lender delays his right to exercise foreclosure if the borrower can catch up to his … (0 comments)
roseville short sales: FOR RELEASE: Chris Plumb Earns Prestigious Designation To HELP Homeowners In Danger of Foreclosure
- 10/30/09 08:27 PM
FOR RELEASE: IMMEDIATEDATE: October 28, 2009 For more information, please contact: Chris PlumbPhone: 916-230-9087 CHRISTOPHER PLUMB EARNS PRESTIGIOUS DESIGNATION TO HELP HOMEOWNERS IN DANGER OF FORECLOSURE CHRISTOPHER PLUMB of DAVIS & DAVIS ASSOCIATES, REALTORS, 2237 Douglas Blvd., Ste. 125, Roseville, CA 95661 has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by "distressed" homes in the foreclosure process. Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, … (2 comments)
In a short sale, the bank or mortgage lender agrees to discount a loan balance because of an economic or financial hardship on the part of the borrower. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. Neither side is "doing the other a favor;" a short sale is simply the most economical solution to a problem. Banks will incur a smaller financial loss than foreclosure or continued non-payment would entail. Borrowers are able to mitigate damage to their credit history, and partially … (1 comments)
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