What Is A Short Sale?
What Is A Short Sale?
A Short Sale is a transaction where the seller owes more to the mortgage than the house can sell for. In short sale cases the seller either can not or will not pay to make up the difference between what is owed and what the home sells for and is asking the bank to forgive the difference. No two short sale transaction are alike. There are many variables some of which are: Reason for shortsale, Who the bank is, Where the home is located, is it a hardship or business decision, who the bank negotiator is, who the real estate agent is, what the banks process for short sales is, how backed up the bank is…..
Because of the variety and sometimes complexity of a short sale I have seen some close in as short as 20 days and some that have never closed and while there is no consistency in short sales it is important to work with a real estate professional who works with shorts sales regularly.
Latest Short Sale and Foreclosure Related Blog Posts
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Will the Government Continue to Boost up the Danville and San Ramon Real Estate Market
The following article published in U.S.A. Today offers an opinion from the author along with several economists regarding the governments efforts in keeping the housing market from free falling....
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Could the government create a backdoor stimulus for Danville Real Estate and San Ramon Real Estate?
In a Wall Street Journal's "Market Watch" report the author discusses a proposed change in the current lending requirements for mortgage backed securities which would, if enacted, serve to cut the number of pending foreclosures and spur economic growth....
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Just What is Going on with the Mortgage Markets for Danville Real Estate and San Ramon Real estate
The market for home loans has never been this dynamic. With record low interest rates, increased underwriting requirements, volatility due to global economic conditions, and a host of other reasons, we have never seen a better time to get a...
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Mortgage Rates for Danville and San Ramon real estate Fall, Extend Record Lows
The following Wall Street Journal article highlights what we have been tracking since the European Union came out with their economic woes. And that is record low interest rates. ...
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Many Owners of Danville and San Ramon Real Estate are in limbo
The following San Jose Mercury News article reports on a situation that has become quite commonplace. And that is homeowners with distressed mortgages who are not making mortgage payments....
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