We hear the word more and more often: Loan Modification. What exactly is a Loan Modification? When borrowers get in trouble, they can’t make loan payments. The bank is left with a few options that are ugly for everybody. Often, the best option is Loan Modification. Loan Modifications allow the bank to make loan payments […]
A short sale is a property that sells for less than the balance owing on its mortgage. A short sale can be an underwater, an apartment building or even vacant land. If there is a mortgage balance that is greater than the market value of the home, that property is a short sale. A Short Sale is […]
Are you thinking about Short Selling your home? Contact the expert Jean M. Sorel at 305.433.5686. He will tell you everything you need to know.
When you spot a short sale house that interests you, take your hand off the mouse and step away from the computer. Before you get all excited over the prospect of buying that short sale house, pick up the phone and call your real estate agent. Your agent needs to research that short sale listing first.In […]
Make sure you’re getting a clear title. This hasn’t necessarily been taken care of in a foreclosure. Together with your real estate agent, you should thoroughly study the title documentation to make sure there are no easement issues and all liens have been released. If you have any questions at all, talk to the person […]
Many of the homes for sale today – as many as half in some markets – fall under the category of “distressed properties.” These are homes that have either gone through foreclosure or are being marketed as “short sales.” In a short sale, the homeowner can’t afford to maintain the mortgage, but the lender – […]