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!
If you’ve fallen behind on your mortgage payments, your lender may be offering you the chance apply for a loan modification. In a loan modification the lender makes permanent changes to the terms of your mortgage resulting in a more affordable payment. Keep in mind that while a mortgage modification will reduce your payment, it […]
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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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Short sales are usually never quick or easy, but once in while one surprises you! Find out how these West Haven homeowners went from upside down and struggling, to mortgage debt-free in just 4 quick months! After years of waiting fruitlessly for their home to appreciate so they could sell, my clients decided it was […]
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Considering a Connecticut short sale?Find out the pros and cons of pursuing a short sale! Pros Get rid your over mortgaged home. Eliminate high mortgage payments. Settle the mortgage debt with your lender. Avoid foreclosure. Pay no closing costs or commissions to sell. Possibly receive relocation assistance. Cons Credit score will drop temporarily. You may […]
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After years of failed efforts to keep her home, and with less than 2 weeks away from her foreclosure law day, this Branford, CT homeowner reached out to me for a last minute attempt to avoid the foreclosure with a short sale.Short sales generally take 4-5 months or even longer at times so the clock […]
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Hamden, CT Distress Market Report 2019Despite several years of gains in the marketplace, Hamden year to date home sales show a massive increase in the rates of foreclosed homes and short sales. After dropping down to an 8 year low of 14% of all homes sold, The current rate of distress sales is currently at […]
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HUD Partial claims often lead to trouble, but there is still a way out! Find out how one seller walked away from over $40k of bad mortgage debt in this FHA short sale success with MB Financial Bank!When my seller first called me a few years ago, she had fallen behind on her FHA mortgage […]
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quote-left I cannot honestly find the right words to express the amazing job that Minna, Jaime, and the entire group did for me. Making the decision to go through a short sale process is daunting, to say the least, but Minna and her team somehow found a way to take all of the stress out […]
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What do you have to gain by short selling? The top 5 benefits of a short sale over a foreclosure: Avoid the stress of falling behind and losing your home to foreclosure.A foreclosure can be mentally and emotionally draining and publicly humiliating. A short sale will help you stop foreclosure, and move on with your […]
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Wells Fargo can be a challenging lender to work short sales with, but sometimes you get lucky! See how our South Windsor, CT short seller walked away from over $50,000 of bad mortgage debt in this Wells Fargo FHA short sale!After years of struggles with loan modification attempts, our seller decided it was time for […]
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