Considering a short sale? Have more than two mortgages? You may be in for prolonged frustration and heartbreak. Many lenders, especially second mortgage lenders, take out mortgage insurance. In the case a borrower defaults on his or her mortgage, lenders can collect from a mortgage insurance pool. Mortgage insurance is taken out to minimize risk,  … Read more

It’s no secret that many people are trying to get out from under the gun of foreclosure in the recent market.  One way to avoid the smirch of foreclosure on your financial record is to consider doing a short sale – that is, selling the house before the bank takes it in foreclosure.  Typically when  … Read more

Short selling can be a stressful and demeaning time for anyone who would otherwise be faced by foreclosure. If you are in a short sale negotiation, or are considering a short sale to avoid foreclosure, hold your ground with lenders, brokers and potential investors. Keep in mind that the mortgage crisis grew from compounded, irresponsible  … Read more

The dramatic pop of the real estate bubble left a lot of homeowners in a bad position. Some homeowners and families tightened their collective belts and struggle on to make the mortgage. Others are not as fortunate. One way that homeowners and banks have tried to combat this problem is with the real estate short  … Read more