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What happens with mortgages if there’s a recession?

Real Estate News

Even if the hoped-for economic “soft landing” isn’t so soft, don’t expect to see a wave of short sales and foreclosures next year.

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9 Tips for Buying a Preforeclosure (Especially If It’s Your First)

HomeLight

As youre getting familiar with the lay of the land eyeballing homes that seem to meet your criteria and fit your budget , daring to let yourself feel excited about the possibilities maybe you stumble upon a listing marked as a preforeclosure. The nature of a short sale is that the homeowner owes more than what the home is worth.

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Real estate tech roundup: Hubzu and Brookfield Residential

Housing Wire

Hubzu is an end-to-end asset management platform for residential foreclosure, short sale, REO, deed in lieu, CWCOT and retail property auctions. million bids and the sale of more than 225,000 homes. The app offers potential buyers tools to find, research and bid on homes via a competitive auction format. and Denver markets.

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Think US home prices are high? At least we aren’t Canada

Housing Wire

Breaking that threshhold would mean we are in unhealthy home-price growth land. A lot of mortgage debt went away due to foreclosures and short sales, bringing home prices way down. Those loans with a small downpayment risk foreclosure or short sale if home prices fall quickly during a job loss recession.

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The 2023 Housing Market: A Look Ahead

Housing Wire

Short sales are unlikely to reemerge unless there is a serious deterioration in borrowers’ ability to pay their mortgages. . The “soft landing” in which unemployment stays below 5 percent while inflation corrects is now looking increasingly likely but a great deal of uncertainty remains. .

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How Long Does a Short Sale Take? What to Expect When You’re Buying Short

HomeLight

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? It’s a long sale.

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Hit Them With Your Best Shot: How Much to Offer on a Short Sale

HomeLight

But what if it’s a different kind of sale … for example, how much should you offer on a short sale? Enter the short sale : a solution for the seller, and a special opportunity for a buyer. What’s a short sale? Short sales are unique because they require the approval of the seller’s lender.