short sale for real estate: More on Loan Modification versus Short Sale
- 02/20/10 09:46 AM
As we talk to more and more homeowners who are in distressed situations with their home loans, an issue that often comes up is the concern and worry that many have regarding their good credit rating. They have worked hard to attain it and don't want to lose it. As a result they have struggled to continue their mortgage payments at all costs, draining their savings, going into higher and higher credit card debt, and some even tapping retirement accounts. In these situations it is clear that the homeowner won't be able to continue making the payments as they are currently … (1 comments)
short sale for real estate: Short Sale or Loan Modification
- 02/20/10 09:43 AM
It is very apparent as we visit with more and more distressed homeowners here in the Huntington Beach and Los Angeles/Orange County area, that most do not have a clear idea of what their options are. Those options vary depending on what the homeowners goal is with regard to keeping their home.In one case, for example, the homeowner refinanced into a negative amortization adjustable loan sometime within the last three years or so, and now is faced with rising payments and an adjusted high interest rate. They always thought they would refinance again, but now have little or no equity required … (0 comments)
short sale for real estate: Short Sale Tale #2
- 12/14/09 12:43 PM
How Many REALTORS have been surprised near the end of a Short Sale approval process by being presented a promissory note for our sellers as part of the deal? ...It can be quite a 'shock' for a home-owner expecting this ordeal to be a no cost or low cost transaction. But Short Sales are always unique in the demands of the buyer. That is why being prepared and knowing all the outcomes of the sale are so important when defining the expectations of the transaction, and being ready for the unexpected. Click Here to Read This Short Article--> … (0 comments)
short sale for real estate: A Short Sale Tale
- 12/10/09 12:48 PM
Every Short Sale I have been invovled with has had a unique journey of it own. This week we finished a Short Sale with Bank of America that took over nine months (and several pints of blood from our team) to complete. The Good News? We are able to share some things that will make the next one a little smoother.
Click Here to Read This Short Article --> … (4 comments)
As we talk to more and more homeowners who are in distressed situations with their home loans, an issue that often comes up is the concern and worry that many have regarding their good credit rating. They have worked hard to attain it and don't want to lose it. As a result they have struggled to continue their mortgage payments at all costs, draining their savings, going into higher and higher credit card debt, and some even tapping retirement accounts. In these situations it is clear that the homeowner won't be able to continue making the payments as they are currently … (1 comments)
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