Short sales are slowly fading into the past but good deals will remain until increasing house values fully exceed under water values. Right now, short sales remain a viable investment option in many markets. Start By Qualifying the Seller While the amount of time it takes loan servicers to decide to accept a short sale […]
The Short Sale Process: How To Avoid Delays
February 22, 2013 by
Short sales offer underwater homeowners an easier way out of trouble, but they don’t always proceed as smoothly as we like – this kind of transaction can take up to three months longer than a regular sale, and during that time there’s lots of potential for the deal to go sour.
SFR Investors To See Glut Of Highly Motivated Sellers As MDR Act Likely To Expire At Year’s End
November 14, 2012 by
The Mortgage Debt Relief Act is due to expire at Midnight, December 31, 2012. This means that distressed homeowners who are trying to complete a short sale or foreclosure will be liable for taxes on the amount of their loans which is forgiven – IF their transaction does not close by December 31st. There has […]
Does A Short Sale Stop You From Getting A New Home Loan?
September 27, 2012 by
What is a short sale? Very simply, a short sale is when a mortgage lender agrees to accept less than the total amount of money they are owed on a piece of property in order to facilitate the sale of that property. This is done when the owners
Selling Your Home in a Flat Market
August 6, 2012 by
While there have been phenomenal buying opportunities over the past five years, these have come at a cost to sellers. Homeowners attempting to sell property that is not distressed in particular, have found it extremely difficult to compete with the flood of short sales and foreclosures on the market.
House For Sale – Using Creative Financing To Sell A Home That Won’t Sell
June 15, 2012 by
When my stepfather died back in 2007, he left my family with a rental house that he had owned for about 22 years. The tenants were an elderly couple that had once worked for my stepfather. They were paying $250 a month rent. He had given them a special deal on low rent as part […]
The Professional Investors Secret: The Best Deals Aren’t Advertised
May 31, 2012 by
When it comes to investing in real estate, everyone knows that the internet has made it easier than ever to locate foreclosures, pre-foreclosures, short sales, and bank owned REO properties. Chances are your local Multiple Listing Service has hundreds of potential short sales and foreclosures listed at prices that are well below their original selling price prior to the housing market melt-down.
Short Sales Get Shorter
May 30, 2012 by
Short sales are set to speed up from the beginning of next month, with new FHFA guidelines set to come into force on June 15. Under the new guidelines, Fannie Mae and Freddie Mac will be required to give a final decision on any short sale within 60 days of the homeowner’s request.
Bank of America in $30,000 Short Sale Incentive
May 17, 2012 by
As part of its efforts to reduce the number of foreclosures on its books, the Bank of America is offering relocation payments of up to $30,000 to struggling homeowners to induce them to agree to a short sale.
Short Sales to Speed Up
March 19, 2012 by
Following a recent settlement with the state attorneys general, new short sale requirements are to be adopted by the largest five mortgage servicers in the US, in the expectation that these will speed up what has become quite a lengthy process.
