short sale: The 7 Most Dangerous Short Sale Myths - Complete Version
- 06/26/10 03:36 AM
Don't let one of these dangerous myths land you and your family in foreclosure ... A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about short sales have developed, and it is important to understand the reality of this process should you find it meets your current needs.
Myth #1 - The Bank Would Rather Foreclose than Bother with a Short SaleThis is one of the most common misconceptions. The reality is that banks do not want to foreclose on your … (2 comments)
short sale: The 7 Most Dangerous Short Sale Myths - Myths #2 & #3
- 06/24/10 04:52 AM
Don't let one of these dangerous myths land you and your family in foreclosure... A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about short sales have developed, and it is important to understand the reality of this process should you find it meets your current needs.
Myth #2 - You Must Be Behind on Your Mortgage to Negotiate a Short Sale While this may have previously been the case, today lenders are looking for verifiable hardship, monthly cash flow shortfall, … (3 comments)
short sale: The 7 Most Dangerous Short Sale Myths - Myth #1
- 06/23/10 04:32 PM
A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about short sales have developed, and it is important to understand the reality of this process should you find it meets your current needs. Myth #1 - The Bank Would Rather Foreclose than Bother with a Short Sale
This is one of the most common misconceptions. The reality is that banks do not want to foreclose on your property because the foreclosure process is incredibly costly. Banks, investors, and even the … (5 comments)
short sale: Foreclosure, A National Problem:
- 06/23/10 03:19 PM
Foreclosure, A National Problem:Here are some disturbing statistics from the Mortgage Bankers Association, based on 44.6 million mortgages. Data courtesy of the CDPE organization. National Numbers, Prime Loans - 1st Quarter 20103.41% in Foreclosure6.89% in Default (30+ days late)10.3% Total National Numbers, Subprime Loans - 1st Quarter 201015.39% in Foreclosure25.76% in Default (30+ days late)41.15% Total National Numbers, FHA Loans - 1st Quarter 20103.93% in Foreclosure12.09% in Default (30+ days late)16.02% Total National Numbers, VA Loans - 1st Quarter 20102.63% in Foreclosure7.06% in Default (30+ days late)9.69% Total National Numbers, All type loans combined - 1st Quarter 20104.63% in Foreclosure9.38% in Default (30+ … (0 comments)
short sale: Short Sales - The Short and Not So Sweet...
- 06/07/10 09:34 AM
Short Sale DefinitionA homeowner is "short" when:When a borrower owes an amount on his property that when combined with closing costs and commissions is higher than current market value.A short sale occurs when:A negotiation is entered into with the homeowner's mortgage company or companies to accept less than the full balance of the loan at closing. A buyer closes on the property and the property is "sold short." Short Sale CommissionsCommissions - In the case of a short sale it is understood that the seller is experiencing financial hardship and they will not be responsible for any commissions or fees to … (1 comments)
short sale: March foreclosures skyrocket to new monthly record!
- 04/21/10 05:00 AM
I just finished reading an article titled "March foreclosures skyrocket to new monthly record" which was in an online publication I subscribe to called "Valuation Review". The numbers put forth are staggering! The article quotes "RealtyTrac's U.S. Foreclosure Market Report" as one of its sources. The article states:"RealtyTrac's U.S. Foreclosure Market Report for the first quarter shows that foreclosure filings - default notices, scheduled auctions and bank repossessions - were reported on 932,234 properties, a 7 percent increase from the previous quarter and a 16 percent increase from the first quarter of 2009. One in every 138 U.S. housing units received a … (0 comments)
Don't let one of these dangerous myths land you and your family in foreclosure ...
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