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
September 8, 2017
Short sales on mortgages backed by FHA are a little different than your average short sale. FHA has their own short sale program called the PFS (pre-foreclosure sales) program. FHA follows their own specific guidelines for who qualifies and FHA keeps some pretty strict rules for their short sellers: FOUR TIPS TO GET THROUGH YOUR SHORT
September 8, 2017
FHA, the most forgiving lender in the US also sets a lot of rules. If you have an FHA loan, and are behind, or are facing a problem with payments, the rules to get into a workout are very strict, but very clear. If you live in a house with an FHA backed loan and need to short
September 8, 2017
All too often I speak with homeowners who at some point decided the best way to deal with their over-leveraged real estate was to rent it out. Renting at a loss to maintain a property that can’t be sold traditionally rarely works out well, and it is usually within a few years these same homeowners seek new alternatives
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