Many people think a short sale primarily consists of simply selling your home with a realtor as part of a lender sanctioned transaction. Others may view a Short Sale as an opportunity to get out of a bad investment or difficult financial situation.&
During the brunt of the recent mortgage crisis, when lenders nationwide faced unprecedented levels of mortgage loan delinquency in short periods of time, it was common to see delinquent mortgages sit with no adverse lender action. The lenders did no
Many are beside themselves while others have expressed a sense of panic to me regarding the expiration of the Mortgage Debt Relief Act and their decision to do a short sale. The law, or otherwise termed grossly generous entitlement, is over. I
Many people I have spoken with, simply do not fully comprehend the ramifications of foreclosure and the potential personal liability they may face regarding the mortgage note. When you get a mortgage there is a deed of trust that allows the lender ce
It’s not news that it is difficult to get a new mortgage. The good news is the government and the markets are just beginning to recognize that the crisis was historic and not everyone who got caught should be permanently labeled a dead beat.&nb
This article was published in The Washington Post on June 15th, 2013. In the event you missed it, I think it is a terrific example of what can happen without proper mitigation. This is exactly what you want to avoid. This applies to Short