USA – A short sale is often viewed as the only alternative to foreclosure because it mitigates additional fees and costs to both the creditor and borrower. By doing a short sale, you will retain some dignity in knowing that you sold your home and you will have no mortgage payments to make. Click here… Continue Reading
USA – A successful short sale helps the seller to avoid any credit damage that could be brought about by a foreclosure. Such damage is not something to admire as it may take a minimum of seven years for someone before it goes off your credit report. That is why is it best to do all… Continue Reading
USA – Many people are embarrassed that they are short selling their house. They feel like they are somehow being dishonest or shady. Neither one of those is true. A lot of the people short selling today never had a blemish in their credit. They lived perfect, responsible financial lives. Then the real estate market… Continue Reading
USA – The biggest threat to your short sale is a high appraisal. Banks consider short sales for economic reasons. A bank will approve a short sale only if they think they will net more money taking the short sale offer. To make sure they aren’t selling the house for too little, they order an… Continue Reading
USA – The Stop Foreclosure Institute recently received a question from Will. Here was his question. “I am thinking of short selling my house. There are some problems with the house. I know that most home buyers get a home inspected before they buy it. Do I have to tell them about the problems? Or,… Continue Reading
USA – The Stop Foreclosure Institute recently received a question from Katie. Here was her question. I am an agent and I am helping someone short sell their house. X Lender (to remain unnamed) claims that they have sent a short sale package to the seller a couple of times. But, they haven’t because my… Continue Reading
USA – The Stop Foreclosure Institute recently received a question from Ryan. Here was Ryan’s question. “I own a rental house. When I bought it, the rent covered the mortgage and all the other payments. However, rental rates have declined in my area and the rent no longer covers the mortgage. Besides that, I had… Continue Reading
USA – Many people mistakenly think that a short sale is adversarial. “I will fight that banker and convince them to let me short sale and walk away from the upside down debt”, they think to themselves. That is not how short sales actually work. Most negotiations are not adversarial. In fact, most short sale… Continue Reading