foreclsoure: Buy Again After Part 3 of 6 Conventional Financing - 06/19/14 04:44 AM

A short sale is the sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. The lender agrees to a payoff of a lesser amount than is actually owed, even on a current mortgage, to facilitate the sale of the property to a third party.
If a property is surrendered or included in a bankruptcy, it is considered a foreclosure and must follow the foreclosure seasoning rules.
A foreclosure is a legal procedure in which a mortgaged property is sold by the trustee to pay the outstanding debt following a … (0 comments)