list of homes: What Is Foreclosure?
- 08/13/09 03:31 AM
What is foreclosure? This question at the top of our list of frequently answered questions (FAQ)! Many buyers and sellers have heard the term "foreclosure", but many are not really sure as what it means. Depending on who we are talking to, the answer to this simple question can convey a vastly different meaning. The simple answer to "what is foreclosure" is that the bank has taken ownership of a home - usually due to the mortgage not being paid for several months. Once buyers and sellers hear this answer, other questions follow and the conversations that come out of "what is foreclosure" can lead almost anywhere. Foreclosure is a legal matter … (0 comments)
list of homes: Short Sale - What is it?
- 09/15/08 12:22 PM
Short Sale is a term that we hear quite often these days. What does it mean? It's quite simple. A short sale is when there is not enough money in the transaction to satisfy all the obligations of the seller. These obligations can include the payoff of any and all mortgages, any loans collateralized by the property, transfer taxes, legal fees, real estate commissions and any outstanding property taxes or liens against the property. A short sale is often a better alternative for the bank and the seller to avoid the foreclosure process. Should you purchase a short sale? Yes! A … (0 comments)
What is foreclosure? This question at the top of our list of frequently answered questions (FAQ)! Many buyers and sellers have heard the term "foreclosure", but many are not really sure as what it means. Depending on who we are talking to, the answer to this simple question can convey a vastly different meaning.
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