Doing a short sale will not affect your credit & future ability to get a mortgage as much as a foreclosure.
If your short sale your property, you might be able to obtain financing more quickly and easily than if you allow your property to go to trustee sale. Homeowners do not necessarily have to be in default in order to qualify for a short sale. In other words, many...read more
If a homeowner completes a short sale, foreclosure, or deed in lieu, the debt owed to the mortgagee is either forgiven or cancelled. When this occurs, the former debt is considered income to the former homeowner. The Mortgage Debt Relief Act of 2007 in general makes...read more
Lenders, such as Wells Fargo and JP Morgan Chase, are reportedly offering cash incentives to borrowers who cooperate with short sales. Some homeowners have reported amounts from a few thousand up to over $30,000 in cash offered for cooperating with the short sale of...read more
Sort of. Using Zillow and other real estate websites is a good way to start to generate comparable sales on a subject property. For example, Zillow lists recently sold properties that are similar to a subject property. BUT, be aware that it will show all sales, and...read more
Many buyers mistakenly believe that they will have to pay commission if they use a real estate agent to find and buy a home. But in reality, it is the seller that pays for the commission. Most homes for sale are listed with listing agents, who have a contract...read more