Short Sales

Bank of America Now Issuing No Deficiency Short Sale Approvals

2010-08-25T18:00:00Z

Ross Kilburn - Wednesday, August 25, 2010 Learn how to get your Bank of America short sale approved with no deficiency in this Bank of America Case Study Bank of America "No Deficiency" Short Sale Case Study: Property Location: Lynnwood, WA Lender: Bank of America (BAC Home Loans) Hardship: "Our condominium has been listed for a few months and, even with the price dropping well below the amount we owe, we have not received any offers. In addition, our financial situation is changing....(read more)

What Homeowners Need to Know About Loan Modifications

2010-02-21T22:39:00Z

In my experience, working with hundreds of Seattle area pre-foreclosure homeowners since 2004, the homeowner is best served when they find closure as soon as possible. Loan modifications, for the vast majority of homeowners, only postpones the inevitable. Consider this reality: Out of 3.1 million delinquent mortgages in September of 2009, only 16% have been successfully modified. The average homeowner has roughly a one in six chance of getting their bank to agree to a loan modification. To even get...(read more)

Saving property from foreclosure

2010-01-03T12:42:00Z

Saving property from foreclosure Author: Mike Greaves Legal foreclosure is the process in which a bank or other creditor takes over the borrower’s property in lieu of the debt they have to pay, using legal means. A foreclosure step is normally taken by the creditor only when the borrower has not paid the loan dues for a very long period. There are two types of foreclosures – strict foreclosure and foreclosure by sale. When a debtor defaults on his loan due, that is fails to pay the debt,...(read more)

A Short Sale to Avoid Home Foreclosure

2010-01-03T12:38:00Z

A Short Sale to Avoid Home Foreclosure Author: Kris Koonar You can buy a home before it goes into foreclosure, if you manage to arrange a short sale. A short sale is when the homeowner sells the home to you at a price lower than what they owe to the bank or other lender. Short sales are a way of reducing the loan against the property, so it is more marketable. It means a loss for the homeowner, but there are many reasons why an owner may choose a short sale. Obviously, the home might fetch a lot...(read more)

Short Sale Real Estate: Tips for Selling Your House for Less than Is Owed

2010-01-03T12:30:00Z

Short Sale Real Estate: Tips for Selling Your House for Less than Is Owed Author: Simon Volkov Short sale real estate references selling property for less than the balance owed on the mortgage loan. This type of transaction is occasionally offered to borrowers who have become delinquent on their home loan and can no longer afford mortgage payments. In order to avoid the expense associated with foreclosure, banks allow borrowers to sell their house at a reduced price. Entering into short sale real...(read more)