September 9, 2017
It is very common for buyers to ask for sellers to pay some of their closing costs when buying property, and this is commonly accommodated by the sellers to move the transaction along. But what happens in a short sale where there are no proceeds to the seller? There is a common misconception that closing costs assistance is
September 9, 2017
Do banks approve short sales in employment re-locations? Many homeowners who are upside down in their CT home but able to keep up their mortgage payments and are just riding it out come to a crossroads when they need to move for work. While their payments may be comfortable, coming up with tens or even
September 9, 2017
Many of our short sellers wonder when they need to move out of their home. Just as in a traditional sale, the home needs to be broom clean and vacant at close for the new owners. Whether you should move out earlier in a short sale situation is a little more tricky. Sometimes moving during
September 9, 2017
Less than 50% of all listed short sales in CT actually reach closing.With most of these homeowners in a must-sell situation – why do only 1 in 2 short sales close? Something obviously goes wrong in the process as lenders are generally looking to approve short sales rather than foreclose to reduce their own losses. Having closed hundreds of short sales
September 9, 2017
Wondering how to settle your second mortgage in a short sale? Many of our clients have two mortgages – a first mortgage and a second (or a home equity line of credit). Frequently, a sale of the home would provide enough proceeds to satisfy the first mortgage, but not enough to cover the second. Unless the sellers
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