A residential real estate short sale is not a simple process, there are several pieces to it. Here are the top 4 Questions Homeowners Ask When Considering a Short Sale: Do I qualify for a short sale? a. Home market value is worth less than the mortgage b. Legitimate hardship that affects ability to pay … Continue reading Short Sale Process: Top 4 Questions Homeowners Ask
Category: Foreclosure
Managing Death in a Short Sale
Occasionally in a short sale, one of the owners/spouse, has died, before or during the short sale process. This is a manageable situation, but it requires more work for the short sale agent. In the state of Texas, when somebody dies, the ownership falls to their next-of-kin, namely the spouse and any children. For example, … Continue reading Managing Death in a Short Sale
Factors to Consider for a Short Sale in Dallas
There are five key factors to consider in determining if a short sale is the right strategy for DFW homeowners: equity, house value, homeowner’s individual financial situation, the lender’s flexibility, and impending foreclosure. Length of ownership: Seven years is generally the tipping point. Until then, the homeowner probably hasn’t built up sufficient equity to pursue a … Continue reading Factors to Consider for a Short Sale in Dallas
Reasons Why Short Sales Fail
There are several reasons why short sales fail. Here are some common situations that can make the process challenging for a short sale agent: Divorce or Separation Many couples who are separated or divorce are not on good terms nor will agree to cooperate to help the other with the sale. Do not take a … Continue reading Reasons Why Short Sales Fail
Dallas Foreclosure Scam
Many real estate professionals, including investors and agents, in the DFW area have creative solutions to help homeowners avoid foreclosure. Although some are legitimate and very successful, you should always be caution to avoid a scam. Read this article from the Dallas Observer about the massive mortgage scam that affected more than 70 homeowners … Continue reading Dallas Foreclosure Scam
Short Sales with Scott Carson on the Note Closers Podcast
Listen to Melody Medley on the Note Closers Show with Scott Carson! http://weclosenotes.com/ep-333-short-sales-in-todays-real-estate-market-with-melody-medley
Truth About Being on the Foreclosure List
In this article I really want to clear up a lot of confusion and misconceptions about the foreclosure process. A lot of times people see the word “Foreclosure” and stress out thinking that if they don’t pay off their loan, or catch up the loan, there are no options. Real estate agents sometimes think that if … Continue reading Truth About Being on the Foreclosure List
Advantages of a Short Sale Over A Foreclosure
What are the Advantages of a Short Sale Over A Foreclosure? Nobody ever imagines that their own home might one day face the prospect of foreclosure. However, the real estate crash and economic downturn have made this nightmare a reality for many Americans. Sadly, the foreclosure process is often a long and painful process for those … Continue reading Advantages of a Short Sale Over A Foreclosure