January 13, 2026
What is a deficiency judgment?Connecticut is a recourse state. This means the lender that suffers a shortage in a foreclosure has the right to pursue a deficiency judgment from the borrower. They can and sometimes do sue the homeowner for the losses they have suffered and will move to collect these funds. You will have
January 13, 2026
FHA short sales explained!If you have an FHA mortgage your loan is insured by HUD. HUD has their own short sale program known as the FHA PFS (Pre-Foreclosure Sale) program.The FHA PFS Program was originally introduced in the 1990’s to help homeowners in default with FHA mortgages avoid foreclosure and free them of their mortgage
September 29, 2025
4 TIPS FOR DEALING WITH YOUR UNDERWATER MORTGAGE DURING A DIVORCE Many of our short sale clients here at Reid Real Estate Group are in the process of a divorce or have already divorced but still own property together. Often the family home needs to be sold during this difficult and emotional time, made even more so when the home is worth
September 2, 2025
Anther Mr. Cooper short sale success!Mr. Cooper (formerly Nationstar), is one of the largest mortgage servicers in the country, and holds a ton of bad loans. Fortunately, their loss mitigation department is one of the most efficient currently and liquidating these bad loans seems to be high priority. Contrary to popular belief, bankruptcy doesn’t actually eliminate home
August 11, 2025
Considering a Connecticut short sale but want to know the pros and cons?When you owe more than your Connecticut home is worth, but you need to sell anyway, a short sale is a possible solution. A short sale is the process by which a home is sold for less than is owed on the mortgage
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