Keeping Current Matters

NOVEMBER 4, 2021

million households lost their homes to a foreclosure, short sale, or because they simply gave it back to the bank. Many projected up to 30% of all mortgage holders would enter the forbearance program. As of last Friday, the total number of mortgages still in forbearance stood at 1,221,000. In reality, only 8.5%

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Short sale Equity Sales Banks 312

Housing Wire

AUGUST 31, 2020

Most mortgage lenders are looking for ways to automate their mortgage servicing operations in order to cut costs, maintain profitability and effectively manage their compliance and reporting to various agencies (e.g., The system also offers loss mitigation, modifications, short sales and repayment tracking functionality.

Mortgages 279

Mortgages Investor Short sale Loans 279

Keeping Current Matters

JULY 28, 2021

million households lost their home to a foreclosure, short sale, or because they simply gave it back to the bank. Many experts projected 30% of all mortgage holders would enter the forbearance program. As of last Friday, the total number of mortgages still in forbearance stood at 1,863,000. 2018: 279,040.

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Short sale Equity Principal Sales 304

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

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. He points out that the bank isn’t likely to sell the property for less than market value. Short sales fall into the category of “distressed” sales.

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Short sale Sales Purchase and sale agreement Banks 113

Keeping Current Matters

JUNE 10, 2021

We told banks they needed more reserves and that they could no longer underwrite toxic mortgages. Here are the results of that regulation, captured in a graph depicting the number of failed banks since 2007. In a post from RealtyTrac , they explain: “We changed the rules. What was different this time? Bottom Line.

Bankruptcy 297

Bankruptcy Banks Short sale Industrial 297

HomeLight

OCTOBER 5, 2020

As fate would have it, right when you’re ready to start seriously searching for a home to buy, your dream house is listed for sale as a short sale. If you don’t know about short sale requirements for buyers, you might feel like you’re out of luck. What’s a short sale?

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Short sale Sales Pre-approval Pre-qualification 97

Housing Wire

APRIL 25, 2023

This, together with several noteworthy bank failures, dwindling personal savings accounts and increasing debt utilization, has impacted homebuyer demand, which continues to run below both the 15-year highs of 2021 and the pre-pandemic numbers from 2018 and 2019. Although rates have ebbed from over 7% earlier this year to below 6.5%

Short sale 397

Short sale Staging Mortgages Banks 397

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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Short sale Closing costs Closing Sales 98

HomeLight

AUGUST 16, 2021

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. What exactly is a short sale? Source: (Freedomz / ShutterStock).

Short sale 105

Short sale Sales Purchase and sale agreement Banks 105

Housing Wire

OCTOBER 31, 2022

One of the unsung heroes of the most prolonged economic and job expansion ever recorded in history was the passing of the 2005 Bankruptcy Reform Act and the 2010 qualified mortgage rule under Dodd-Frank. This is why I am very mindful of recent 100% loans that some banks are offering. have rates of 5% and below.

Bankruptcy 523

Bankruptcy Lending Equity Mortgages 523

Housing Wire

MAY 13, 2021

Yes, and Angel Oak Mortgage Solutions is one of them. Angel Oak Mortgage Solutions offers several non-QM loan options to purchase second homes and investment properties. A Bank Statement loan allows bank statement submissions instead of tax returns. Are there lenders not subject to the limit?

Loans 312

Loans Bankruptcy Investor Short sale 312

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.

Short sale 105

Short sale As-is Purchase and sale agreement Sales 105

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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Short sale Sales Banks Inspection 98

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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Short sale Sales Pre-approval Equity 98

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?

Short sale 104

Short sale Sales Loans Banks 104

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?

Short sale 92

Short sale Sales Banks Due diligence 92

HomeLight

OCTOBER 11, 2021

You see a house you love, but the listing shows that it is an “active pending short sale.”. And just what is a short sale, anyway? Is a short sale home purchase for you? And can you still make an offer on an active pending short sale? Short sales defined . Wait, what?

Short sale 101

Short sale Sales Banks Backup offer 101

Keeping Current Matters

OCTOBER 21, 2020

Many housing experts originally voiced concern that the mortgage forbearance program (which allows families impacted financially by COVID to delay mortgage payments to a later date) could lead to an increase in foreclosures when forbearances end. The real estate market has a shortage of listings for sale.

Equity 261

Equity Banks Closing costs Loans 261

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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Short sale Sales Pre-approval Closing costs 80

Lighter Side of Real Estate

APRIL 6, 2022

You’re probably well aware that mortgage rates are rising. Which means you’ve probably been reading or hearing about adjustable rate mortgages making a comeback. The 30-year fixed rate mortgage has been so historically low, they haven’t been all that necessary to consider. So your rate isn’t fixed for the life of the loan.

Mortgages 145

Mortgages Fixed-rate mortgage Banks Lending 145

HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

Banks 98

Banks Inspection contingency Inspection FHA loan 98

Housing Wire

AUGUST 30, 2022

I understand why anti-Central Bank people say this because they want to blame everything on the Federal Reserve and say it’s just been booming demand. However, we haven’t had a credit sales boom like the one we saw from 2002-2005. However, not to the degree we saw from 2005-2008.

Bankruptcy 397

Bankruptcy Days on market Sales Short sale 397

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

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. Short Sales . A short sale occurs when a homeowner puts the house up for sale at a smaller price than is owed on the mortgage. Jordan Matin, Portland Homes for Sale.

Short sale 114

Short sale Pre-approval Banks Loans 114

HomeLight

DECEMBER 11, 2024

The homeowner is behind on mortgage payments , and while they do still have an opportunity to catch up before the bank seizes the property, an official notice of default has been issued. The nature of a short sale is that the homeowner owes more than what the home is worth.

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Short sale Banks Sales Equity 97

HomeLight

JUNE 30, 2024

These websites compile data from banks, government agencies, and real estate services to provide comprehensive listings of homes that are being sold due to the owner’s inability to meet mortgage obligations. Zillow provides detailed listings, including photos, estimated mortgage payments, Zestimate , and neighborhood information.

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Short sale Banks Investor Finance 115

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. Short sales are not suited to all REALTORS ®.

Short sale 52

Short sale Sales Banks Principal 52

HomeLight

AUGUST 31, 2020

Some potential homebuyers pass over foreclosures or buying a bank-owned home entirely because they are daunted by the special considerations that go into this kind of sale. The reality is, there are a variety of substantial pros and cons that any would-be buyer should weigh seriously before purchasing a bank-owned property.

Banks 98

Banks Inspection Inspection contingency Title 98

Calculated Risk Real Estate

SEPTEMBER 8, 2023

Refinance activity declined significantly in early 2022 as mortgage rates increased, and I was expecting MEW to also decline as fewer homeowners used cash-out refinancing. Quarterly Increase in Mortgage Debt Here is the quarterly increase in mortgage debt from the Federal Reserve’s Financial Accounts of the United States - Z.1

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Closing Equity Short sale Principal 130

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?

Short sale 52

Short sale Sales Pre-approval Principal 52

HomeLight

AUGUST 31, 2021

A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments. A home goes through several steps before the bank physically takes over the house and sells the property. Let’s take a look at the most common foreclosure sales and how they work. Short sale.

Pre-approval 111

Pre-approval Short sale Banks Finance 111

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

Loans 111

Loans Mortgages Staging Short sale 111

Realty Biz

FEBRUARY 12, 2023

Christina relates how the aftermath of the mortgage crisis in the early 2000s, it’s become much easier and less intimidating to purchase foreclosed properties. Public records indicate when a bank has served notice that a property is in default, but before it goes to auction,” Christina says. “If

Short sale 115

Short sale Banks Staging Principal 115

RIS Media

JANUARY 29, 2021

Lenders offer mortgages for borrowers with a wide range of financial circumstances. Between prime (highest-quality) and subprime (lowest-quality) home loans are a category called “Alt-A mortgages.” . The federal government sets guidelines for Qualified Mortgages that focus on a borrower’s ability to repay the loan.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages Bankruptcy Loans 98

HomeLight

OCTOBER 30, 2020

you’ve likely missed several months of mortgage payments or may be already incurring the lender’s attorney fees for your continued delinquency. Whatever stage you’re in, it’s natural to feel paralyzed with disappointment, sadness, and a sense of panic when those overdue notices and warnings come from your mortgage company.

Short sale 105

Short sale Banks Equity Mortgages 105

HomeLight

MAY 17, 2022

A preforeclosure means the homeowner has stopped making payments or fallen behind on their mortgage payments. However, unless homeowners can come current on their current mortgage or negotiate a loan modification, they will lose their home. I mean, it takes probably, at the minimum, three to four months to get a short sale through.”.

Inspection 115

Inspection Banks Short sale Title 115