Austin Kilgore over at REO Insider Blog has a post about how JP Morgan is allowing the owner of a 71-unit apartment complex in Florida to do a short sale for 25% less than the original mortgage principal. The property was originally purchased in 2008 for $4.1million with a mortgage of $3.2million. The short sale [...]
The New York Times has an article today about how “the rich” have stopped paying their mortgages at a rate “that greatly exceeds the rest of the population”. More than one in seven homeowners with loans in excess of a million dollars are seriously delinquent, according to data compiled for The New York Times by [...]
Hat tip REO Insider Dispelling a commonly held myth that banks don’t want to do short sales; Freddie Mac CEO Ed Haldeman said the company has seen the number of its short sales increase 600% from 2008 as lenders look to dampen the impact of foreclosures hitting the marketplace. And then there is this; In [...]
Welcome to ShortSaleForeclosureTalk.com. My name is Gary Sattelberger and as a licensed real estate agent I speak with troubled homeowners everyday about the options available to avoid foreclosure. And as a foreclosure survivor I understand the stress and often, despair that you face when dealing the possibility of losing your home and the financial difficulties [...]