If you want to avoid foreclosure and your mortgage is no longer affordable, a real estate short sale is an alternative to foreclosure that can lead to an entirely different and more positive financial outcome. Here are just a few advantages a short sale has over foreclosure; A successfully negotiated short sale will allow you [...]
The Arizona Dept. of Housing has started a new program called Save My Home AZ to help underwater homeowners avoid foreclosure and keep their home by reducing the principal amount owed on the home. Here is a quick run down on how it works. Eligible homeowners will receive assistance of up to $50,000 to permanently [...]
Wall Street knew. They knew they were dealing in bad mortgages. How did they know? Before they bought the mortgages that were later pooled into large blocks (know as mortgage-backed securities or MBS) and sold to unwitting investors, they hired firms like Clayton Holdings to examine the loans. And when they were told that as [...]
If your mortgage is no longer affordable and you’re thinking of letting your house go into foreclosure, here are five very important things you should know; If you let your house got to foreclosure, you won’t be able to get a new home loan for 5 years. Foreclosure can lower your credit score by 250 [...]
I find the statement by Elizabeth Warren, Congressional Oversight Panel Chairman, particularly telling of the current state of the housing market, “One in four homeowners who has a mortgage is now below water. And this damages, not only their ability to repay, I’m going to be really blunt, their incentive to repay.” In regards to [...]