The American Dream is quickly slipping through the fingers of many homeowners that purchased a home at the peak of the market. Trying to refinance is becoming next to impossible and stress levels are through the roof. Short sales have become a lot more popular in the past year as more homeowners are trying to [...]
Read More ...Category: Short Sales
To support overall market stability and reinforce the importance of borrowers working with their servicers when they have difficulty repaying their debt, Fannie Mae is updating several policies regarding the future eligibility of borrowers to obtain a new mortgage loan after experiencing a preforeclosure event (preforeclosure sale, short sale, or deed-in-lieu of foreclosure). The “waiting [...]
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We’re starting to see a lot more short sales in Northern Virginia, but it’s really more than that. You will also notice short sales in Northern Virginia as a whole. This includes short sales in Maryland and Washington DC as well.For those buyers out there, every time you hear that a home is a short [...]
Read More ...A short time ago when anyone heard the words “Short Sale”, they cringed in disgust. The reason for this awful taste in Realtor’s® mouths was the uncertainty of a short sale. Banks were taking as long as 8 months to get back to the agent and buyer. More often than not, hearts were being broken [...]
Read More ...As you heard me say in my last post that a large majority owe more than what their home is worth, articles are coming out left and right with the same information. I may have the right to call myself an expert, but I won’t touch that. I guess I call it as I see [...]
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