HomeLight

SEPTEMBER 30, 2020

But what if you’re buying a short sale? Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. What’s a short sale ?

Short sale 138

Short sale Loans Sales FHA loan 138

Housing Wire

NOVEMBER 11, 2022

While elevated mortgage rates, sluggish home sales and high inflation have taken a significant toll on the housing industry, it’s unlikely that these issues will cause home prices to drop next year, at least according to National Association of Realtors (NAR) Chief Economist Lawrence Yun.

Short sale 508

Short sale Mortgages Sales Residential 508

Housing Wire

APRIL 8, 2021

The share of Auction.com foreclosure sales with surplus funds has steadily risen in recent years, hitting a new record high of 46% in 2019 before slipping slightly to 44% in 2020 — still more than twice the share of foreclosure sales with surplus funds between 2012 and 2015.

Equity 459

Equity Short sale MLS Sales 459

Real Estate News

DECEMBER 18, 2023

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.

Short sale 306

Short sale Land Mortgages Sales 306

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 282

Mortgages Investor Short sale Loans 282

Housing Wire

JUNE 18, 2024

The actions were taken against Pittsford, New York-based Sutherland Global and Landover, Maryland-based NOVAD Management Consulting , which together formed a Home Equity Conversion Mortgage (HECM) servicing operation on behalf of the U.S. Department of Housing and Urban Development (HUD).

Loans 448

Loans Short sale Mortgages Equity 448

Housing Wire

APRIL 5, 2021

Pre-foreclosure sales are a promising alternative to foreclosures – here’s why. The great promise of short sales and other distressed pre-foreclosure sales as a foreclosure alternative is most fully realized in a competitive and transparent online auction marketplace. Presented by: Auction.com.

Short sale 544

Short sale Loans Mortgages Sales 544

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.

Short sale 107

Short sale Sales Bankruptcy Banks 107

Housing Wire

NOVEMBER 15, 2022

While originations are down due to a volatile mortgage market, the population of underserved borrowers who require non-QM products is on the rise. Credit Challenges: Borrowers who have recovered from a foreclosure or bankruptcy do not have wait seven years to get a mortgage.

Bankruptcy 397

Bankruptcy Short sale Investor Title 397

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%

Short sale 316

Short sale Equity Sales Banks 316

Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. In addition, more for-sale inventory will likely be available on the market.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

Housing Wire

DECEMBER 28, 2022

First, mortgage lending standards have remained high after the last bubble. People can afford to pay their mortgages. There won’t be forced home sales like we saw in the crisis. As a result of the fallout from the great recession, mortgage quality has been far more regulated and viewed with suspicion.

Marketing 505

Marketing Equity Mortgages Short sale 505

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. Get Started 1.

Short sale 97

Short sale Banks Sales Equity 97

Housing Wire

MAY 20, 2022

Consider a Short Sale. If you’re in over your head in debt and can’t find your way out, your mortgage company may approve a short sale. This means you sell the home for less than the amount you owe on the mortgage, but the lender accepts it as payment in full.

Short sale 435

Short sale Investor Banks Agents 435

Housing Wire

JUNE 22, 2021

Servicers’ forbearance portfolio volume fell 11 basis points last week to 3.93%, according to a survey from the Mortgage Bankers Association. In fact, calculating mark-to-market CLTVs of homeowners in some form of mortgage postponement through February 2021, Black Knight estimated that 96% have at least 10% equity in their homes.

Short sale 418

Short sale Loans Equity Mortgages 418

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. 2019: 277,520.

Short sale 304

Short sale Equity Principal Sales 304

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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Short sale Sales Agents Mortgages 105

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. Short sales fall into the category of “distressed” sales. Here’s when it’s good to buy a short sale house. First: What’s a short sale?

Short sale 113

Short sale Sales Purchase and sale agreement Banks 113

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.

Short sale 370

Short sale MLS Banks Loans 370

Housing Wire

AUGUST 23, 2021

Per the report, first-time homebuyers accounted for 30% of sales in July, dipping slightly from 31% in June and down from 34% year-over-year, NAR said. The post Fewer first-time homebuyers are competing these days appeared first on HousingWire.

Short sale 488

Short sale Sales Development Marketing 488

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?

Short sale 98

Short sale Sales Pre-approval Equity 98

Housing Wire

DECEMBER 21, 2022

From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NAR Chief Economist Lawrence Yun. Mortgage rates spiked in March, and then the new listing data started to decline at the end of June.

Sales 531

Sales Mortgages Short sale Principal 531

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 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? It’s a long sale.

Short sale 105

Short sale Sales Purchase and sale agreement Banks 105

Housing Wire

MAY 19, 2022

The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 However, this year has seen one big game-changer: the 10-year yield finally cracked over 1.94%, which drove mortgage rates over 4%. We still have some legs to move lower in sales. Inventory is always seasonal.

Marketing 528

Marketing Sales Staging Short sale 528

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

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. After the housing bubble crashed, a lot of household debt got deleveraged through foreclosures, short sales and bankruptcies.

Bankruptcy 523

Bankruptcy Lending Equity Mortgages 523

Housing Wire

MAY 18, 2022

Mortgage servicers: If you’re not obsessed with customer service, you’re falling behind. In a world where disparate physical spaces are steadily merging in the central hubs of mobile devices, consumers consider their mortgages one more digital service in need of perfecting.

Loans 397

Loans Short sale Mortgages Closing 397

Keeping Current Matters

SEPTEMBER 1, 2020

Today, that’s largely impacted by low mortgage rates. In essence, purchasing a home while mortgage rates are this low may save you significantly over the life of your home loan. At that time, distressed properties, like foreclosures and short sales, dominated the market. The green bar represents today’s market.

Short sale 337

Short sale Loans Mortgages Closing 337

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. Presented by: Auction.com.

Title 370

Title Short sale Lending Loans 370

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.

Short sale 397

Short sale Staging Mortgages Banks 397

Housing Wire

MARCH 3, 2022

A growing chorus of mortgage servicers, consultants, and lobbyists support the idea of having forbearance programs as a permanent solution in the industry’s loss mitigation toolkit, rather than only a temporary relief for wide-scale events such as financial crises and pandemics. So, it may start to come down.

Principal 370

Principal Loans Lending Finance 370

Keeping Current Matters

MAY 26, 2021

There are three main factors that go into determining how affordable homes are for buyers: Mortgage Rates. Mortgage Payments as a Percentage of Income. We can see that homes are more affordable now than they’ve been at any point since the housing crash when distressed properties (foreclosures and short sales) dominated the market.

Short sale 318

Short sale Loans Mortgages As-is 318

Keeping Current Matters

JANUARY 13, 2021

At the onset of the economic disruptions caused by the COVID pandemic, the government quickly put into place forbearance plans to allow homeowners to remain in their homes without making their monthly mortgage payments. First, the homeowner suffers an adverse economic shock…leading to the homeowner becoming delinquent on their mortgage.

Equity 304

Equity Short sale Principal Loans 304

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.

Bankruptcy 284

Bankruptcy Short sale Loans Title 284

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

Housing Wire

DECEMBER 8, 2021

Not even 5% mortgage rates in 2018 budged this data line too much. Higher mortgage rates haven’t materialized as expected. Back in the summer of 2020, I believed that if mortgage rates could get over 3.75% , the days on the market would grow , which I think even to this day would be the most welcome healthy event for housing.

Bankruptcy 525

Bankruptcy Loans Sales Short sale 525