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!
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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Homeowners with FHA loans have options when facing foreclosure as a result of COVID 19. FHA offers many options to help borrowers in default get back on track with their payments. But keeping the home is not always an option, and often there is simply not enough equity in the home to sell at a profit! […]
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“Minna was the best thing that happened to us in a very long time. We’ve been planning on moving from our house and on with our lives and the house was simply an anchor. We’ve had two liens on the house that would take a long time to cure and we were forced to sell […]
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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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Upside down with no way out!After numerous failed attempts to sell their Ridgefield home, my clients were forced to accept that their property simply would not sell for the amount they needed to pay off their FHA mortgage. Like many of CT’s most expensive towns, Ridgefield has been experiencing a downward trend in home sale […]
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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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Mortgage Forbearances are coming to an end. Millions of home owners opted to take a few months off their mortgage during the shutdowns, but now it’s time to pay up!YOUR OPTIONS FOR GETTING BACK ON TRACK WITH YOUR MORTGAGE! Pay the back due amount and resume normal payments.If you have the funds and wish to […]
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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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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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