Keeping Current Matters

JUNE 10, 2021

Lehman Brothers) and many more into bankruptcy. Not all of the $700 billion was used, but the important point is that the government did not act with equal fervor to help flailing homeowners, millions of whom lost their homes to foreclosures and short sales. It created a panic that drove some large companies out of business (ex.

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Bankruptcy Banks Short sale Industrial 312

Realty Biz

AUGUST 29, 2022

Many more homes have been sold since then and some have even gone through short sales. But what is a short sale exactly, and how is it any different than a regular sale, bankruptcy, or foreclosure? How does a short sale affect you as a homeowner? What You Need to Know About Short Sales.

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Short sale Sales Bankruptcy Banks 107

Housing Wire

JULY 11, 2023

million in short-term “fix and flip” loans, in addition to securing $500,000 in COVID relief small business loans. According to the indictment, the group allegedly acquired a property in bankruptcy proceedings in a short sale, and two defendants moved in and occupied that home as their primary residence.

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Housing Wire

DECEMBER 8, 2021

Panic selling is different than distress selling when you’re in a foreclosure or short sale. As you can see below, foreclosures and bankruptcy were rising into the 2008 recession from 2005-2008, then the great financial recession occurred. Knowing the difference is the key.

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CT Homes

FEBRUARY 3, 2022

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. But what is the short sale process and how does it work? . What is a Short Sale?

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Short sale Sales Pre-approval Principal 52

RIS Media

JANUARY 29, 2021

After a bankruptcy, foreclosure or short sale, a prospective homebuyer may have to wait a period of time before taking out a new prime mortgage. Lenders often grant mortgages to borrowers who fall short or who are marginal in one area but who are well qualified in other ways. An Alt-A loan may be available sooner.

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Debt-to-income ratio Mortgages Bankruptcy Loans 98

HomeLight

AUGUST 16, 2021

Christina’s course: Working with Foreclosures and Short Sales. HUD Homes for Sale. Today, she has sold more than 4,000 homes total and around 2,500 of those have been foreclosures or short sales. I believe it’s gonna be a short sale market personally, until next year. Auction.com.

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Marketing Short sale Bankruptcy Banks 76

HomeLight

MAY 24, 2022

While this typically takes just a few days, if the home has been through a foreclosure or short sale, it could take longer. The sale can’t close until these liens have been cleared. Bankruptcy. What if the seller has declared bankruptcy? Then they might need the court to approve the sale.

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Purchase and sale agreement Closing Title search Title 111

HomeLight

MARCH 31, 2022

In the event of a lost job, a medical emergency, an impending bankruptcy or any other unexpected financial crisis, selling a house “as is” can provide needed funds quickly. In some cases, this results in a short sale , which is a complicated process that results in selling the home for less than it’s worth. Avoid foreclosure.

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As-is Inspection Investor Short sale 122

Kyle Handy

JANUARY 20, 2023

You can target advertising on Google or Facebook to people interested in bankruptcy or foreclosure. To be even more creative, you could target those looking up information about a foreclosed home, what it takes to recover a foreclosed property, or how to navigate a short sale with a lender.

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House Flipping Bankruptcy Renovation Investor 89

HomeLight

JANUARY 13, 2022

Most commonly, issues may arise if there’s a dispute over ownership, likely due to family disputes or divorce proceedings , or if there are any liens against the property due to debts owed to contractors, unpaid taxes, or bankruptcy. In these cases, title contingencies protect the buyer by allowing them to back out of the sale.

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The Residential Specialist

JUNE 30, 2021

Thompson compares the toughness of divorce listings to short sales. In some cases, legal complications such as restraining orders and bankruptcies can affect progress. “I will bring in somebody else to help them find that next house,” she says. “I says Stevens. Maybe the mortgage hasn’t been paid.

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Agents Bankruptcy Sales Short sale 98

The Close

MARCH 15, 2022

One year later, in September 2008 when Lehman Brothers—the nation’s fourth-largest investment bank—filed for Chapter 11 bankruptcy, it signaled the start of the largest real estate crash of our lifetime. Short sales and foreclosures quickly became the norm. It was like someone turned off Niagara Falls. I was fortunate.

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HomeLight

JULY 31, 2021

The next step is to “ clear title ,” a process that shows the house is free of any liens, judgments, or bankruptcies that would prevent the transfer of ownership. Once you’ve accepted an offer and entered into a purchase contract, the buyer will turn the contract over to the title or escrow company.

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HomeLight

MAY 23, 2022

If the property is the subject of any lawsuits, foreclosures, bankruptcy, leases or rental agreements, judgments, tax liens, proposed assessments, or other liens or notices that could affect title to the property. Whether the house is subject to regulation by a homeowners’ association.

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As-is Purchase and sale agreement VA loan Inspection 112

HomeLight

AUGUST 10, 2022

Founded in 2014 , We Buy Houses Hotlanta is a family-owned operation that advertises Creative Real Estate and Short Sale certifications on their website. They advertise a simple three-step process that starts with inputting an address on the website followed by a showing and flexible closing date.

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Housing Wire

FEBRUARY 14, 2025

Foreclosures and bankruptcy The housing bubble years were marked by a massive credit boom and not necessarily due to low mortgage rates. In fact, mortgage rates over the last decade have been lower almost every month compared to those during the housing bubble years and we have not seen the massive sales we saw from 2002-2005.

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HomeLight

DECEMBER 2, 2021

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? Your agent will also ensure that all additional legal guidelines required in a short sale are followed.

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HomeLight

DECEMBER 1, 2021

Short sale: selling when you owe more than your home is worth. That is, unless your lender agrees to a short sale with a deficiency waiver. In a short sale situation, the mortgage lender allows you to sell your home for less than the remaining loan balance. Short sales have their drawbacks, though.

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Purchase and sale agreement Short sale Loans Mortgages 111

The Close

JANUARY 13, 2025

It also allows you to search bankruptcies, tax liens, as-is deals, and short sales nationwide. You can look for foreclosures, bank-owned properties, and short sales and use their calendar to attend in-person property auctions.

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House Flipping Investor Renovation Short sale 98

HomeLight

JULY 31, 2020

There are many issues that can arise from a title search on a home for sale — some small, some big — that must be addressed before the property can be legally transferred to the new owner. If the kick-out clause is activated, the current buyer has the option to remove the home sale contingency and move forward with closing. Dodge move.

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Closing Purchase and sale agreement Title search Earnest money deposit 119

HomeLight

JUNE 19, 2023

Step 1: Request Offer Why you might need to sell your Florida house fast If you’re facing any of these life challenges, a fast home sale may be the solution you need: Tight financial situation: Selling your house fast can bring relief from overwhelming medical bills, bankruptcy, or escalating credit card debt.

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The Close

DECEMBER 27, 2022

Preforeclosure and short sales are more common. This timeline may be longer if you’re in a judicial foreclosure state, where such sales are required to go through the court system. Appreciation has completely stopped and prices are beginning to fall. Even a few bank-owned homes are starting to show up in the MLS.

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HomeLight

OCTOBER 29, 2020

Claims most often arise from family disputes or divorce proceedings, while property liens can be tied to debts owed to contractors, unpaid taxes, bankruptcy, and more. Short sale or bank approval contingencies. Zoning and land use contingencies.

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Purchase and sale agreement Pre-approval Earnest money deposit Inspection 81

HomeLight

JULY 29, 2022

There are certain properties I would immediately order a title search before I do anything else: A foreclosure , a short sale , a bankruptcy, an estate sale,” Houck says. That likely went right to your lender, so ask to get a copy from either them or directly from the title company.

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