When foreclosure looms, many homeowners try to sell their homes. For them, the goal is not just to get the home sold, but to do it quickly. Foreclosure rates are the highest in buyer’s markets, when homes take a longer than average time to sell. What’s a homeowner to do? Get aggressive, and get your home [...]
Marketing Your House
Make sure your home is well-marketed on the Internet. This is your real estate agent’s responsibility, but you should make sure that it gets done. More than 80 percent of house hunters start their home search on the Web. So your listing should be on all of the top real estate listing sites like [...]
If you have missed more than three mortgage payments, or your lender has filed a Notice of Default (NOD), you might think the loss of your home is inevitable. Even at this stage, there are five strategies you can use to stop the foreclosure process.
Foreclosure Workout. Up until the time your home is scheduled for auction, [...]
There are many flavors of compromise you can strike with your lender if you are facing foreclosure. One of the toughest to execute is the short sale.
What Is a “Short Sale”? The title “short sale” is somewhat misleading; many assume that “short” means quick, implying a transaction that has a short escrow period. Au contraire. A [...]
Why would an impersonal institution — a mortgage bank — want to compromise with a homeowner who is behind on his payments? Well, some banks have more of a “compassionate personality” than others, but the bottom line is that it costs a bank up to $80,000 to foreclose on a home!
What Is a Workout?
A workout is [...]
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