All Entries Tagged With: "short sales"
New Government Program Might Help Curb Foreclosures
A new federal program being launched today might not allow homeowners to save their homes but can assist in saving their credit scores. The Home Affordable Foreclosure Alternative program, or HAFA, could help some homeowners who can’t afford their mortgage payments get out of their dire situations and move into more affordable housing. The program, [...]
Short Sales May Finally Shorten Up
The Treasury Department has stepped up in their efforts to help lenders and servicers facilitate the ability to short-sell a piece of property. A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven [...]
Buying A Home Via Short Sale – Tips For Chicago Buyers
Maybe you’ve heard someone talk about short sales, the transaction involving negotiating the purchase of a home with a lending institution, typically below market value and less than the mortgage owed for the property. These types of transactions are difficult to execute for a number of reasons including the time it takes negotiate with the [...]
What is a Short Sale?
A short sale is a transaction that involves selling a property for less than the amount owed on the mortgage. It has grown in popularity as an exit strategy for financially strapped homeowners because it doesn’t hurt your credit report as deeply as a foreclosure. It is also a favorable out for the mortgage [...]
Short Sale, Long Process – A Short Sale Experienced
After participating in a recent short sale transaction, it’s a wonder that the word ‘short’ is anywhere in it’s name. ‘Short’ certainly does not refer to the amount of time it takes to find out if you can buy the property… Nearly 6 months passed after making the offer and the closing took place [...]
