Short Sale or Loan Modification?

While searching for short sale news the other day I ran across a good blog post by Jim Klinge. He was replying in detail to one of his readers who was struggling trying arrange a short sale or a loan modification. Jim brought up a number of valid points, ...

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Short Sale Success Story of Injured X-Ray Technician

Lori felt trapped by a tumbling real estate market that brought the value of her home lower than what was owed and a medical condition that cut her income in half. Over the course of 6 weeks, we worked around all these obstacles to overcome this serious problem. When all was ...

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What Happens With the Short Sale Deficiency Balance? Part 3

Here we wrap up our 3-part series outlining the major points concerning a short sale deficiency balance and what you need to be thinking about when faced with one. It's important that you do watch all 3 videos if you are going into a short sale situation because the deficiency balance ...

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What Happens With the Short Sale Deficiency Balance? Part 2

A short sale on your home will result in a deficiency balance and is often handled in one of three ways as outlined in the previous episode of this show. While your lender can, and often will, put in writing that upon completion of the short sale and them receiving the ...

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What Happens With the Short Sale Deficiency Balance? Part 1

Short Sales always result in a some type of deficiency balance. After all, if you owe $250k on your home and the lender chooses to take a short sale that returns to them only $115k then a $135k deficiency is created. How that deficiency is handled is probably the most ...

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Can Your Rent Your House Back After a Short Sale?

I am constantly coming in contact with troubled homeowners that are looking for the solution to their unaffordable, over leveraged home. While a short sale is often the best solution (sometimes the only solution)I find that most have a strong burning desire to "save the home" and will often ...

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Deed In Lieu of Foreclosure

If you ever decided to contact your lender to discuss options before looking to a short sale, they may suggest that you consider a Deed In Lieu of Foreclosure. Friends, family, and coworkers in whom you confide the details of your situation may bring it up as well. In this ...

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The Short Sale Process

Short Sale negotiation is usually not a speedy process. But while things can often feel like they are taking an eternity to get any results at all, the flow of the entire ordeal is rather predictable. Most short sales stick to a general patter from the time the ...

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Short Sale vs. Quick Sale

Because the number of people that are upside down on their homes, cannot afford the payments anymore, and need to move now numbers in the millions, we are hearing a lot about short sales these days. Banks, mortgage brokers, and real estate agents alike will often tell people searching for answers ...

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Definition of a Short Sale

The term Short Sale is quickly becoming a buzz word in American culture. With the housing crisis being further extended due to the credit crunch and mortgage melt-down, the values of homes nationwide are dropping through the floor like a millstone. This unprecedented depreciation in home values has ...

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