What Is a Short Sale?

Mortgages

What Is a Short Sale?

What Is a Short Sale?

The world of real estate can be confusing, and sometimes, even with careful planning, mortgage payments can be difficult to make. If you find yourself faced with options like foreclosure, bankruptcy or a short sale, it’s important to understand your choices. A short sale is for those who do not qualify or do not want… Read More

Why Troubled Homeowners Could Face Huge Tax Bills

Mortgages

Why Troubled Homeowners Could Face Huge Tax Bills

Why Troubled Homeowners Could Face Huge Tax Bills

Financial adversity is an unhappy fact of life — jobs are won and lost, savings stashed and spent, and investments gain and lose ground all the time. Certain reversals of fortune are within our ability to predict and prevent. Indeed, some losses may even be manageable. Others, though, are impossible for some to overcome. Apparently,… Read More

How Short-Sale Survivors Can Get a Mortgage

Mortgages

How Short-Sale Survivors Can Get a Mortgage

How Short-Sale Survivors Can Get a Mortgage

Need to finance a home this year? If you had a previous short sale, pay very close attention to your credit report, because it might list the home as a foreclosure. It’s important to know how this difference can prevent you from getting a new mortgage again, and how you can deal with it so… Read More

Short Sales Are Down as Home Prices Rise

Mortgages

Short Sales Are Down as Home Prices Rise

Short Sales Are Down as Home Prices Rise

Home sales and prices continue to rise on an annual basis, and as those numbers have climbed, the number of short sales going through the market has dropped. Short sales, which are home sales in which the sale price is less than the total of the outstanding mortgages secured by the property, made up 5.3%… Read More

What I Learned From Buying a Short Sale Home

Mortgages

What I Learned From Buying a Short Sale Home

What I Learned From Buying a Short Sale Home

One Saturday morning, my husband and I shadowed our inspection agent as he scrutinized the 4-bedroom house we’d bid on several weeks before. I scribbled furiously in a notebook as we came upon a dead mouse next to the furnace, the gap beneath the front door and the mold growing on the roof. All easy… Read More

Mortgage Breaks Spared in Fiscal Deal

Mortgages

Mortgage Breaks Spared in Fiscal Deal

Mortgage Breaks Spared in Fiscal Deal

While many homeowners may have been concerned about the effects that the recently-concluded fiscal cliff negotiations might have on their mortgages, it seems that their fears can be assuaged somewhat. There was some consternation about the federal government’s plans to potentially eliminate a tax break that saves millions of homeowners a considerable amount of money… Read More

Foreclosure vs. Short Sale: What’s Worse for Your Credit?

Mortgages

Foreclosure vs. Short Sale: What’s Worse for Your Credit?

Foreclosure vs. Short Sale: What’s Worse for Your Credit?

Short sales are on the rise and more and more underwater homeowners asking how their credit scores will fare after a short sale or foreclosure – and how the two outcomes compare.  It’s a good question, since the homeowner will have to live with the consequences of this decision for at least seven years, the… Read More

New Rules Let Troubled Borrowers Get a Mortgage Sooner

Mortgages

New Rules Let Troubled Borrowers Get a Mortgage Sooner

New Rules Let Troubled Borrowers Get a Mortgage Sooner

Are you one of the millions of consumers who opted to do a short sale on your home during the mortgage crisis?  There may be some good news for you as earlier this month, Fannie Mae announced new mortgage guidelines targeted at troubled mortgage borrowers that potentially reduces the amount of time it takes to… Read More

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