If you’re not in a hurry to move, and are content to wait patiently while the seller negotiates terms with their lender, you can buy a great house through a short sale. While the owner may have paid $500,000 for it at the height of the real estate boom five years back, you can buy [...]
Entries Tagged as 'Short Sale'
Buying a Short Sale Property
February 8th, 2011 · 1 Comment · Real Estate
Tags: buyer·financiing·Mortgage·patience·Real Estate·seller·Short Sale·short sale terms
Is it Better for Your Credit Score to Foreclose Now or Wait it Out?
August 30th, 2010 · No Comments · Credit Bureaus and Scores, Mortgages
If you’re facing foreclosure and your house is worth less than you owe on the mortgage, will your credit score be harder hit by walking away or sticking it out?
Tags: Bankruptcy·Credit Score·FICO·foreclosure·Liz Pulliam Weston·Mortgage·Short Sale
Can’t Get a Loan Modification? Buy Your Home Back in a Short Sale
May 18th, 2010 · 15 Comments · Mortgages
Under the current rules for the federal program, servicers have been barred from conducting a foreclosure sale if the homeowner requested a modification, but are allowed to push along the process, even set a sale date. That allows them to foreclose more quickly if they determine the homeowner doesn’t qualify for a modification. As a [...]
Tags: foreclosure·loan modification·Making Homes Affordable Program·realtor commission·Short Sale·turned down for modification·US Treasury Dept.
What Happens if I Stop Making Payments on My Auto Loan?
May 14th, 2010 · No Comments · Auto Loans
Q. What happens if I stop making my car payments? A. If you don’t make the payments, the lender will repossess the vehicle. It will then be sold at auction and you will be responsible for the “deficiency balance” – difference between what you owe and the auction sales price. Losing your car to a [...]
Tags: Auto Loans·Car Loans·car repossession·collections·Credit Score·debt settled·deficiency balances·Short Sale
