short sale: Why Short Sales Take So Long... The REAL Reason.
- 03/10/11 09:27 AM
Why a “short” sale is never… uh, short. Most folks these days know what a Short Sale is, but here’s a quick review: A short sale is the sale of a home where the sales price being offered by the new buyer is less than the amount owed on the property by the current home owner. The lender being “shorted”, or getting paid less than they are owed, has to agree with the terms of the new buyer and the purchase price being offered. For more information, check out Mortgage News Daily’s explanation here: What is a Short Sale and how … (6 comments)
short sale: Choose Your Own Adventure: Foreclosure or Short Sale!
- 01/17/11 04:13 AM
Fannie Mae launches new website, www.KnowYourOptions.com, to help homeowners make hard decisions regarding their home and mortgage, many of whom are "under water" and/or consistently missing mortgage payments. I admit, it's a little tongue-in-cheek, comparing the choice between Foreclosure and Short Sale to those classic "Choose Your Own Adventure" books. My grandmother, Dorothy Galde, was an accomplished author who wrote several books, one of which was a CYOA story about a family on a trip to the snowy mountains. Throughout the book, the reader chose between two or three different directions or paths to take the family members, and each unique … (2 comments)
Helping Home Loan consumers and Realtors who serve them to become more empowered during the home buying (or refinancing) process. Because "your mortgage matters", it's important to pay attention to the details and treat it with the importance it deserves.
Why a “short” sale is never… uh, short.
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