Short Sale

Treasury hopes new rules send short sales to the rescue of underwater mortgages

By admin | Published: March 14, 2010

In a short sale, a homeowner sells the property for its current market value, which is less than what’s owed on the mortgage, and the lender agrees to accept the lower amount. The new rules that offer participating lenders cash incentives to get them to approve more short-sale deals also allow them only 10 days to approve or reject short-sale purchase offers, said Treasury spokeswoman Meg Reilly.

Also posted in bank foreclosures, buyers, Consumer News, Economic Stimulus, FHA, Finances, Financing Options, first time home buyers, First Time Home Buyers Tax Credit, First-time Homebuyer, First-time homebuyers, Foreclosure, Foreclosure task force, government bailout, home values, housing market, Local Real Estate News, Maryland, real estate, real estate information, real estate news, Real Estate Report, Realtor, sellers, Social Media, the Future of Real Estate | Tagged , , , , , , , , , , , , | Comments closed

Counties pushed for revenue, get creative and Short sales could come to screeching halt!

By specialed | Published: January 11, 2010

The position the County has taken has caused some grave confusion and concerns for many in the real estate industry because it is contrary to how short sale transactions have been charged recordation and transfer taxes to date.

Also posted in Bank owned bargains, buyers, Certified Distressed Property Expert, Consumer News, Current market Index, Finances, First Time Home Buyer Tax Credit, first time home buyers, First Time Home Buyers Tax Credit, First-time Homebuyer, First-time homebuyers, Foreclosure, Future of Real Estate, government bailout, home inventory, home values, housing market, Interest Rate update, real estate, real estate information, real estate news, Real Estate Report, Realtor, Tax, Tax Credit, the Future of Real Estate, Tips on short sales, Uncategorized | Tagged , | Comments closed

If You Don’t Buy a House Now, You’re Stupid or Broke. Business Week by Mark Roth.

By specialed | Published: December 9, 2009

This article was featured in Business Week. At first the headline seems very to be a very insulting statement! But the writer, Mark Roth, uses this dramatic title to get your attention to make excellent points for those who are on the fence. Namely those interest rates are at an all time low, in fact, … Continue reading If You Don’t Buy a House Now, You’re Stupid or Broke. Business Week by Mark Roth.

Also posted in Finances, first time home buyers, First Time Home Buyers Tax Credit, First-time Homebuyer, First-time homebuyers, Foreclosure, Foreclosure task force, home inventory, home values, housing Bust or Housing Boom, housing market, pending real estate sales, real estate information, real estate news, Real Estate Report, Realtor, sellers | Tagged , , , | Comments closed

Anatomy of a Short Sale

By lheraty | Published: November 1, 2009

A short sale is the selling of property to avoid foreclosure, the catch being that the property is being sold for less than the amount owed on it.  What makes a short sale tricky is that the sale price is not up to the seller, the lender has to agree to the purchase price.  The … Continue reading Anatomy of a Short Sale

Posted in Short Sale | Comments closed

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