Deciding the fate of your home when you can’t afford to maintain the payments is a tough position to be in. Many people are faced with this decision each day and many are finding their choices to be plentiful, but difficult. If you have tried to apply for a refinanced loan or mortgage modification without  … Read more

Depending on who you ask these two concepts may be used interchangeably. There are some who consider a short sale to be a strategic default, while others view a short sale as a foreclosure alternative that has nothing to do with defaulting. However, there are some important distinctions that should be made between these two  … Read more

As a mortgage debt solution, short sales are becoming increasingly popular. Bringing  more money for the lender and less risk associated with foreclosure, short sales also have the potential to save neighborhoods from plummeting home values. Although not the preferred solution for the seller, a short sale can still help remove them from a bad  … Read more

While short sales have yet to gain the accolades they warrant in some cases, the truth is that an increase in short sales is a good sign. Mortgage industry experts agree that short sales are an indication that the foreclosure crisis may be headed to a close and the market may be headed to a  … Read more

The short sale process isn’t for everyone. With additional effort of securing an offer, waiting for the lender to approve or deny the sale and the stress of the foreclosure looming, many people simply avoid the process altogether. Even though the process can be completed successfully, some lenders use a specific system for procedural guidelines  … Read more

Anyone facing foreclosure knows that time is of the essence. Mortgage lenders rarely wait around before taking action on a borrower who has missed a payment, which means that getting control of the situation must happen quickly. While short sales are known for being a long, drawn out process, there are ways to speed up  … Read more

It wasn’t that long ago when homeowners scoffed at the idea of a short sale and buyers were too scared of the idea to put in an offer. These days short sales are becoming more commonplace and many are finding they can offer good benefits in a bad situation. A Win-Win For homeowners with an  … Read more

Economists are predicting that 2012-2013 will be the ” Year of the Short Sale”, which comes as better news than 2011 being the “Year of the Foreclosure”. Despite low property values and record underwater mortgages, lenders have been persistently encouraged to allow homeowners to pursue more mortgage relief solutions this year. Hopefully, this year will  … Read more

Just a few short years ago you would be hard pressed to find a home buyer that was open to a short sale. Carrying a reputation for being difficult and the assumption that there may be something wrong with the home, many people avoided short sales altogether. In today’s market short sales are becoming increasingly  … Read more

As a strategy to avoid foreclosure, and the negatives associated with one, a short sale can be a good option for some homeowners. Other than having to move out at the end of the sale, homeowner struggling with mortgage debt are able to find resolution with few negatives. However, there are some things to consider  … Read more