A number of the nation’s largest lenders have begun seeking out qualified homeowners to complete short sales in exchange for substantial monetary incentives. In fact, reports suggest that incentives could amount to as much...
Category: Short Sales
As the foreclosure crisis drags on, short sales are becoming increasingly common. Unlike foreclosure—in which the bank seizes a property from the homeowner in lieu of mortgage repayment—short sales entail receiving...
According to HousingPulse Tracking Survey, fewer homebuyers are pursuing short sales as a means of saving money on a new home. This trend has been primarily attributed to the problematic, lengthy nature of the short-term sale...
A short sale can sometimes be the best means of avoiding foreclosure when a homeowner is feeling swamped by mortgage debt. However, many homeowners are struggling at present—especially in states such as Nevada, Arizona, and...
In a short sale, banks agree to accept less than the value of a mortgage, at a loss of profit. In many states, banks can pursue borrowers for these losses and it is completely legal. This is known as a deficiency judgment....
