When it comes to a short sale
, you may think you're getting a great deal for a house.
A short sale
is a transaction that involves the sale of real estate having a market value that is less than the amount of outstanding mortgages.
Las Vegas, NV, June 15, 2016 --(PR.com)-- This Las Vegas short sale
sold by the Klinger Group was listed in May of 2015.
CoreLogic reported that 12 percent of suspicious short-sale resales occurred less than 30 days after the original short sale
through the second quarter of 2013.
When a reputable buyer purchases a home through a short sale
, the transaction helps preserve the housing supply in a way foreclosures don't, said Lisa Pepin, who sold a three-family house at 919 Main St.
Borrowers facing one of these hardships do not have to be delinquent to be approved by their servicer for a short sale
. Freddie Mac's new streamlined guidelines provide greater flexibility for servicers processing short sales
for service members with Permanent Change of Station orders, including the elimination of back-end debt-to-income ratios or a cash contribution promissory note.
If you're addicted to real estate hunting or window-shopping, you no doubt heard the term "short sale
." It may sound enticing, but it's more complicated than it sounds.
A short sale
of your home is less damaging to your credit score than a foreclosure.
For example, if a homeowner owes $200,000, a short sale
might allow them to sell for $180,000, and the lender accepts $180,000 as payment in full.
inventory reached a record high in April, according to Richard Halloran, managing broker of Coldwell Banker's Babylon office, citing 1.042 Nassau homes listed as short sales
and 2,430 in Suffolk.
Equator (EQ), Los Angeles, one of the country's leading software provider of default servicing solutions, has announced that over $100 billion in assets have been sold through its platform since 2003, and more than 500,000 short sales
have been initiated since its launch of the industry's first comprehensive automated short sale
solution last year.
Later they decided marketing a similar product to Realtors would give them a bigger market than targeting the small number of auction-goers, so in late October they launched Short Sale
ProLogic (ShortSaleProLogic.com) at a Colorado Association of Realtors event.