Housing Wire

MARCH 17, 2021

While we don’t expect an onslaught of foreclosures like we saw during the mortgage meltdown before the great recession, we can foresee a time after the current forbearance scenario ends in which as many as 500,000 to 700,000 foreclosures may occur,” said Patrick Stone, WFG executive chairman and founder.

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Title Short sale Lending Loans 370

HomeLight

SEPTEMBER 6, 2022

It’s understandable for homeowners who are faced with the stark realization that they may have to sell their homes for less than they owe on their mortgage to be worried. Because, there’s a lot of uncertainty surrounding a short sale, a homeowner might reach out to the real estate agent who originally sold them their home.

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HomeLight

NOVEMBER 9, 2021

You just heard about short sales, and they sound intriguing. But it would be a mistake to think you’re automatically getting a deal with a short sale. Rick Ruiz is an agent in Las Vegas , Nevada, who works with 70% more single-family homes than the average agent in his area. First: What’s a short sale?

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HomeLight

SEPTEMBER 30, 2020

For a homeowner, that might look like not being able to make mortgage payments for a period of time. If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. Short sales operate according to the lender’s approval, requirements, and timeline.

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Housing Wire

DECEMBER 27, 2021

Some 15 years ago, real estate agents had only a few choices when deciding which real estate business model to choose. From virtual, capped models to low-fee and discount, agents can pick the company that best fits their needs. Now, there’s an explosion of teams and new models, including salaried agents and virtual capped models.

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Housing Wire

JUNE 3, 2024

During her 26 years at the firm, Lessinger has been an agent, a team leader and a broker-owner before ultimately being named president of RE/MAX in February 2024. Amy Lessinger BH: RE/MAX is still known today for having some of the most productive agents in the business. Do you feel like that is a draw for agents?

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Housing Wire

JUNE 8, 2022

The monitoring solution also will enable the examination of current servicing customers as well as non-customer lists and alert loan servicers to possible short sales, the firm said. Xactus, with its mortgage verification suite, aims to close more loans quickly and enhance profitability.

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HomeLight

SEPTEMBER 20, 2022

Short sales can provide an excellent opportunity for potential homebuyers to score a good deal. If you’re in the market to buy a short sale home, you’ll need to prepare for a lengthy closing process and steel yourself to jump through some hoops not generally associated with traditional sales. What is a short sale?

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HomeLight

AUGUST 16, 2021

And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. Though short sales aren’t as prevalent today as they were following the Great Recession , they’re not impossible to find, and good deals for buyers can still be had. What exactly is a short sale?

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Short sale Sales Purchase and sale agreement Banks 105

HomeLight

JULY 31, 2020

You don’t see as many short sales in 2020 as in 2010; despite their name, they’re neither short nor simple endeavors. If a homeowner is behind on their mortgage payments, owes more money than the property’s current value, and is in danger of foreclosure, a lender may agree to terms of a short sale.

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HomeLight

DECEMBER 2, 2021

If you’re “upside-down” in your mortgage (owing more than the property is worth), you have a few options. One of them is a short sale. The process is complicated and confusing, often leaving a worrisome question in its wake: How long does a short sale stay on your credit? What is a short sale?

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HomeLight

AUGUST 31, 2020

You may have heard that short sales, foreclosures, or bank-owned properties offer great opportunities for a steal , but what do these different terms mean, and how does the homebuying transaction work for each? What’s the difference between buying a short sale vs. a foreclosure, and where can the best deals be had?

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Keeping Current Matters

SEPTEMBER 8, 2021

Investopedia defines it like this: “ Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property. Short sale. If you find out that you have to pursue other options, your agent can help with that too. Loan modification.

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Equity Short sale Loans Sales 271

Housing Wire

APRIL 25, 2023

Mortgage underwriting standards were much tighter for the past decade than in the era preceding the 2008 financial crisis. The average FICO score for a new mortgage has averaged more than 700 for the past 10 years consecutively. Inventory was so tight that homes often went to buyers with large down payments or even all-cash offers.

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HomeLight

OCTOBER 5, 2020

But what if it’s a different kind of sale … for example, how much should you offer on a short sale? Sometimes life happens, and a current homeowner can’t afford to keep paying their mortgage … and the remaining payoff amount is more than the home is currently worth. What’s a short sale?

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Housing Wire

JUNE 7, 2024

Listings are the life-blood of all successful real estate businesses, but making the leap from working primarily with buyers to working with sellers can be a challenge for many agents early in their careers. As overall home sales decline on a national level, signing listings is more difficult than ever for agents of all experience levels.

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Purchase and sale agreement Agents As-is Inspection 468

HomeLight

OCTOBER 11, 2021

You’re on the hunt for a new home, and in addition to aligning yourself with an experienced agent , you’re also probably spending a lot of time perusing various real estate sites and researching available homes in your area. You see a house you love, but the listing shows that it is an “active pending short sale.”. Wait, what?

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Housing Wire

JULY 11, 2023

The Westchester County District Attorney announced on Friday that it has indicted a group of six individuals and a corporation for allegedly stealing property deeds from distressed homeowners, fraudulently accessing mortgage loans, and evading state taxes. They ultimately defaulted on the mortgages, the district attorney claimed.

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Keeping Current Matters

MARCH 10, 2021

Mortgage standards are nothing like they were back then. During the housing bubble, it was difficult not to get a mortgage. percent from 2001 to 2003 for the whole mortgage market.”. Fifteen years ago, prices were high, wages were low, and mortgage rates were over 6%. Today, it’s tough to qualify. Bottom Line.

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HomeLight

MARCH 30, 2021

You may have heard a little bit about short sales — enough to know that this type of real estate listing can present some opportunities to get a good deal. But while short sales offer potential opportunities , they come with plenty of potential pitfalls as well. Know if a short sale is the best option for you.

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CT Homes

APRIL 18, 2024

If you find yourself in a tough financial spot, it’s crucial to understand your options, particularly when it comes to a short sale vs foreclosure. A foreclosure occurs when a homeowner fails to make mortgage payments, leading the lender to terminate the homeowner’s rights to the property. What is a Short Sale?

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Short sale Sales Closing Mortgages 58

The Residential Specialist

DECEMBER 21, 2022

Experts who worked through The Great Recession of 2008 share how to handle tricky short-sale transactions. With its perfect storm of record-low property values and record-high unemployment, The Great Recession of 2008 triggered a rash of residential short sales. Deal breakers for agents. By Shaila Wunderlich.

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The Close

FEBRUARY 19, 2025

Whether youre a new or experienced real estate investor, you may have asked, What is a real estate short sale? The simple answer is that a short sale is when a homeowner owes more for their home than its current market value and puts it up for sale. What Happens in a Real Estate Short Sale?

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CT Homes

FEBRUARY 3, 2022

As difficult as it may be to believe, the mortgage collapse was over ten years ago. A defining term that emerged shortly after the collapse was the “short sale”. In the years following, short sales were the driving force behind a majority of all total real estate transactions. What is a Short Sale?

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Realty Biz

JANUARY 1, 2021

A property goes into pre-foreclosure when a mortgage company notifies the borrower that they are in default on their loan. To find homes in pre-foreclosure you can search sites that specialize in this or you can have an experienced local agent help you out. Short Sales . Jordan Matin, Portland Homes for Sale.

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The Close

APRIL 30, 2024

When it’s time for a price reduction, real estate agents must conduct market research and rely on the data. In contrast, a definite pro is that by making a price reduction, real estate agents will start to see increased activity on their listing and hopefully get it under contract quickly. Pricing real estate is an art and science.

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HomeLight

JUNE 30, 2024

A Top Agent Can Help You Find A House You Can Afford We analyze millions of home sales to find buyer’s agents who will show you the right home at the right price. Agents don’t pay us to be listed, so you get the best match. Our service is 100% free, with no catch. Get Started What are foreclosure websites?

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HomeLight

AUGUST 31, 2021

But right as you’re about to call your real estate agent, you notice there’s a line in there that labels it a foreclosure. We talked with veteran real estate agents with a combined 30-plus years working with foreclosures to bring you a comprehensive guide to the often confusing world of distressed properties. Short sale.

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RIS Media

APRIL 21, 2022

The total number of loans currently in forbearance decreased by 13 basis points in the past month from 1.18% of servicers’ portfolio volume to 1.05%, according to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey. The survey covers the full month of March and represents 73% of the first-mortgage servicing market (36.4

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Loans Mortgages Staging Short sale 111

Point2Homes

DECEMBER 8, 2020

However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. Short Sale. Short sales occur when the seller will accept a lower amount than is remaining on their home loan.

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HomeLight

JANUARY 3, 2022

Whether you should use an iBuyer (instant buyer) vs. real estate agent to sell your home is a hot debate in some real estate circles. iBuyer vs. real estate agent summary. The main trade-off is that the offer could be less than what you’d get listing the home with an agent, and you’ll pay a fee for the iBuyer’s services.

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HomeLight

DECEMBER 1, 2021

Whatever the circumstance, you should act early if you’re suddenly struggling to make your monthly mortgage payment. Batterman works with 74% more single family homes than the average agent in the area. If thoughts of your mortgage payment (combined with upkeep costs) keep you up at night, it may be time to sell.

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Purchase and sale agreement Short sale Loans Mortgages 111

HomeLight

SEPTEMBER 30, 2021

You’d like to sell your current home, but the mortgage isn’t paid off yet. Consider that most mortgages come with 15 or 30 year terms, while 52% of recent sellers sold before owning their home for 10 years, according to data from the National Association of Realtors. Next, find out how much you owe on your mortgage.

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HomeLight

OCTOBER 30, 2023

A sudden job loss or market dip can flip your entire world upside-down, threatening your ability to stay on top of your mortgage. People need to understand to call first and ask for help instead of beg for forgiveness later,” shares top real estate agent Billy Alt , who sells 65% more single-family homes than the average Las Vegas agent.

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The Close

DECEMBER 19, 2022

We have some tried-and-true ways to make more money as a real estate agent so you can build a thriving business no matter what. Ideally, form a team that includes a real estate agent, an attorney, a contractor, and a banker. 3 Types of Real Estate Investing Every Agent Needs to Know. Get Guaranteed Quality Leads.

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HomeLight

JUNE 8, 2021

If you don’t have the patience for this timeline, including the 49 days you’ll spend waiting for a traditional buyer’s mortgage to wrap, you’ll need to get creative with your plans. For one, you could list your house with a top real estate agent who knows how to get your house sold in a snap. No agent, no open houses, no house tours.

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Realty Biz

JULY 25, 2022

These kinds of properties include condemned houses, hoarder homes, and short sales. Short Sales Require Patience and Due Diligence. The last type of property that requires a different level of understanding is a short sale. Not every homeowner is eligible to do a short sale.

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