Greater New Haven area short sale archives - Reid Real Estate Group

Category Archives for "Short Sales"

All about short sales! Considering a short sale in Connecticut?  Read up on short sales in CT – posts by Minna Reid, Connecticut’s leading short sale specialist and owner of Reid Real Estate Group. For advice on your short sale, talk to Minna Reid today!

July 1, 2021

Failed forbearance leads to SPS short sale approval!

sps short sale approval stamp

Forbearance isn’t always the answer!Many Connecticut homeowners signed up for the Covid 19 forbearances that were widely offered during the shutdowns. But free rides don’t last forever, and eventually it always comes time to pay the piper!As their Covid forbearance came to an end, this CT couple decided to review their options. After several workouts […]

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CT distress shadow inventory looms behind a raging sellers market…

foreclosures loom in ct

Connecticut sellers can celebrate another year of drastic price increases and a strong sellers market! Despite the massive economic losses caused by the governors coronavirus lockdowns, the Connecticut housing market continues to boom! But…for how long?2021 sets off with a new record median sales price of $287,000! Home sale prices jumped 15% year over year […]

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September 3, 2020

Connecticut concrete cancer short sale success!

sold home concrete cancer

Are you stuck with a crumbling foundation? Thousands of homeowners in northeast CT are struggling with foundations that are falling apart, and no one to take responsibility for the issue.  While attempting to sell, these CT owners discovered they also had a problem with their foundation, which was found to be needing complete replacement, and the […]

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February 9, 2020

Stratford, CT short sale success with Wells Fargo!

Wells Fargo can be a challenging lender to work short sales with! See how this Stratford couple walked away from over $100,000 of bad mortgage debt in this Wells Fargo FHA short sale!After years of struggling to make it work with loan modifications, my sellers decided it was time to move on from their over-mortgaged home!Unfortunately, Wells Fargo wouldn’t […]

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October 11, 2019

Over $700,000 of bad mortgage debt fully forgiven in this Bridgeport short sale success with Ditech!

short sale approval stamp

This Bridgeport, Connecticut seller had bought his waterfront home for $425,000 back in 2007 at the peak of the market. Many years of failed loan modification attempts later, his debt had ballooned to over $850,000! To make matters worse, the property was now also worth less than half of what he paid for it in […]

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