4 Questions to Ask the Listing Agent Before Submitting an Offer on a Short Sale:

Listing a Short Sale – 5 Important Points

As mentioned in a previous post, a short sale occurs when an individual is unable to pay their mortgage in full when selling the home. Instead of a “full payoff,” it’s a “short payoff,” also called a short sale. Most real estate agents are aware that short sales are much different from traditional sales in […]

The 4 Main Parts of a Short Sale

There’s a big misconception in the industry that short sales can be closed in a short amount of time. Rather, the “short” component refers to the lender accepting a payoff amount that is less than the full amount owed on the mortgage (e.g. short sale). With any short sale, it’s a complicated process that can […]

The Basics – Loan Modifications, Short Sales, and Deeds in Lieu

Loan Modifications, Short sales and Deeds in Lieu (DIL) are the main types of loss mitigation techniques that lenders use when borrowers are in default and in turn facing a potential foreclosure. They are considered “pre-foreclosure” measures the banks use to mitigate their losses and help the borrowers get rid of the house at the […]