short sales: Should I consider a Deed in Lieu, Short Sale or just go the Foreclosure route in Colorado?
- 02/22/11 04:55 AM
Deed in Lieu: A deed in lieu of foreclosure is where you deed your property to the lender in exchange for being forgiven the entire amount of the mortgage. The lender then sells off the property in order to retrieve as much of the unpaid mortgage amount as they can. In my Real Estate career I have only seen a Deed in Lieu accepted by a Mortgage company as Colorado is deficiency state. The transaction was with an estate sale so I understand why the mortgage company did the Deed in Lieu as the deceased person didn't have any assets or … (1 comments)
1) Am I willing and can I to wait 3-4 months to get an answer from the sellers lender? 2) Do I fully understand that the seller lender may come back after I wait 3-4 months and say NO?! 3) Do I fully understand that the sellers lender will probably want more money for the property than I have offered and am I will to pay more? 4) Do I fully understand that the seller's lender may never give the seller or myself … (1 comments)
short sales: Buying a Foreclosure
- 03/10/10 03:46 AM
Most people think that buying a foreclosed home is a good deal. But what is a good deal? If looking at many foreclosures, putting in many offers which many are rejected, no FHA available financing, many repairs required and the lender selling the home as is looks like a good deal then foreclosures are for you.
A lot of my buyers over the last several years start out wanting to look at foreclosures and distressed properties but end up buying a home from a regular seller or a fix and flip investor. I was at a seminar yesterday and was … (3 comments)
short sales: Highlands Ranch Colorado Real Estate Market and Selling Your Highlands Ranch Home
- 03/10/10 03:27 AM
Some might think that the market is bad but I have been selling Real Estate in the Highlands Ranch market for years and prices are stable. Sure we have all seen that foreclosure in our neighborhood go for what seems to be next to nothing but the truth is, a home in good condition still is going for top dollar and selling within a reasonable amount of time.
If your thinking of waiting to move into a bigger home and are thinking it is better to wait just remember the real estate market usually goes up in percentages so if … (0 comments)
short sales: YOU’RE NOT ALONE!
- 03/10/09 07:55 AM
Foreclosure. The very term strikes fear into the heart of any homeowner. Would you believe that two in every 100 homes in the U.S. were in the process of foreclosure at the end of 2008? If you're facing such circumstances, first understand that you are not alone.
Most people got into this position by taking advantage of ridiculously low introductory rates on adjustable rate mortgages (ARMs). Now that those loans are resetting, consumers face dramatic increases in the interest rate, and consequently, the monthly payment. Even a reasonable rate like 7% becomes a burden to those who have grown accustomed to … (0 comments)
Deed in Lieu:
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