When it comes to working your way through the mass of financial information and terms that’s thrown at you as a homeowner, you’ll probably find that good, clear definitions can be hard to come by.  With recent developments in government policies relating to short sales and foreclosure, many homeowners (especially those facing financial difficulties) find  … Read more

Although short sales are popular among real estate flippers primarily interested in purchasing property at a deep discount, remodeling or making some repairs, and then selling it for a considerable profit; they’re also a great way for prospective homeowners to get a great deal on a house they might not otherwise be able to afford.  … Read more

The term “short sale” has become common in the current housing market.  However, few homeowners actually understand what it means.  While some understand it to be some sort of way of quickly unloading a house for legal or financial reasons, others think of it as little more than an alternative term for foreclosure.  But what  … Read more

Short sales are usually not the first choice of a homeowner experiencing mortgage debt. Many people are surprised to find out that a lender isn’t usually a big advocate either. However, in today’s housing market a short sale is becoming the better alternative to foreclosure when all else fails. The Lender’s Stake While it is  … Read more

Short sales aren’t what they used to be and, in fact, many homeowners are finding the benefits of using them as an alternative to foreclosure. However, not all lenders will approve a short sale, nor are they all the same. In an attempt to better serve homeowners, the federal government crated the Home Affordable Foreclosure  … Read more

For homeowners at risk of foreclosure, the increasing number of short sales comes as a sign that lenders may be opening up the options. However, market analysts are concerned that the growing number of short sales could have devastating effects on the market for years to come. Conflicting Feelings Short sales are becoming more popular  … Read more

The biggest complaint both a buyer and the seller have about a short sale is the time it takes to complete the process. Although a better alternative to foreclosure, the short sale process has been known to drive away potential sales for lenders. However, Fannie and Freddie are taking steps to streamline the process that  … Read more

Now that the 2011 tax season has passed most of us won’t think about taxes again for another 9 months. However, a very important tax bill is set to expire this year that could bring some unwanted changes to the already struggling mortgage industry. Mortgage Debt Forgiveness Act In 2007, the federal government implemented a  … Read more

Short sales aren’t viewed in the harsh light as they once were. These days buyers and sellers aren’t as hesitant to pursue a short sale, even banks and lenders are becoming more keen on the idea. Best Of A Bad Situation For those facing foreclosure a short sale may not initially appear to be on  … Read more

Short sales are known for their headaches and challenges, but they can still be beneficial for both the seller and buyer. The biggest point of concern in a short sale is understanding that you may end up stuck in the process at one point or another. While patience is required, there are also a few  … Read more