Program allowing you to sell a home and pay off a portion of your principal balance when you owe more on your mortgage loan than the home is worth.. Short sale – selling the home for less than you owe. How will this impact your current loan?
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Short Sale: A term that describes the sale of a property for an amount less than the unpaid mortgage.This happens when a borrower cannot afford to keep making mortgage payments and cannot pay the difference between the sale price and the unpaid mortgage.
Short Sale Flops May Send Broker to Prison Read about the latest scandal associated with the housing market, short sales, and what happens when you break the rules. Update on the Successes and Failures of HARP Read about what is going on with the Home Affordable Refinance Program and whether this program for underwater homeowners will continue.
Short sales and Foreclosure Solutions Ryan M. writes, “I keep getting confused. How long again is it that I need to wait after a “short sale” or foreclosure to buy a new home?” This is a great question, and one that has been asked by many.
Here’s how a short sale works: A bank agrees to sell a house at the current market value without foreclosing, allowing the owner to simply walk away because the bank forgives the rest of the debt. The.
Mortgage data aggregator CoreLogic has launched a monitoring program designed to help lenders detect short-sale "property flops" by alerting them when there’s more than one loan application.
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Can short sale flips be flops? On June 10, 2010 Bloomberg Businessweek posted an interesting article about short sale fraud, short sale flips, and short sale flops. Written by John Gittlelsohn.
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In a previous study, CoreLogic – which conducts a monitoring program designed to help lenders detect short-sale "property flops" by alerting them when there’s more than one loan.