foreclosure: How Does a Short Sale Effect My Credit Score? - 10/06/10 09:43 AM
How Does a Short Sale Effect My Credit Score?

The question is not as easy to answer as we would all like to think.  Credit scores are determined in a variety of ways, and there is no way a blog post is going to get you 100% up to date on it.  There are a few things you do need to know first...
There are 3 credit bureaus that calculate your credit score.  In Alabama, you are entitled to 1 free report from all 3 of them every year.  This is so you can check your report for … (0 comments)

foreclosure: Fannie Mae and US Army Offer Help to Military Families Facing Foreclosure - 10/01/10 02:56 AM

Fannie Mae and the US Army announced a plan yesterday to help service men and women (and their immediate families) in the event of an injury of death.
The plan would allow the families a 6 month forbearance of either reduced payments or no payments so the family can concentrate on the more important issue.
A family may qualify for the program only if they have a loan provided through Fannie Mae.  The goal of this new program is to help reduce the number of foreclosures for military families dealing with injury or death. 

foreclosure: Advantages of a Short Sale in Anniston, AL - 09/28/10 10:49 AM
Advantages of a Short Sale in Anniston, AL

As the recent problems with the US Economy continue, we are hearing these words more and more more often.. "Short Sale" ... What is it?  Well, to put it simply, a Short Sale is a bank accepting less than it is owed as full payment for a home.  (If you ever tried to trade in a car with high miles, you may have been "upside down" meaning you owe more money than the dealer is going to give you.. Well, short sales are the same thing, except instead of your … (1 comments)

foreclosure: Shortsale vs Foreclusre - 09/22/10 08:46 AM
As a Realtor, I am often asked the difference between a Short Sale and a Foreclosure.  After I explain the difference, I am usually met with the same response... "so, why would I care?  Both hurt my credit, and I walk away from my home with NOTHING either way." 
The answer is easy... If your Short Sale is negotiated properly, you can be forgiven of any balances still due.  For example, if you owe $200,000 for a house and the bank forecloses and sells the house for $150,000... they can come after you for the $50,000 difference.  A properly negotiated short … (3 comments)

Greg DeCristofaro (Keller Williams Realty)

Greg DeCristofaro

Boston, MA

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