From the category archives:

Short Sales

How To Improve Your Short Sale Success

January 29, 2010
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Are you in distress and considering a Short Sale as an alternative to foreclosure?

If you start the process properly, with plenty of time to spare, you drastically increase the chance of a successful sale. I get a lot of satisfaction from helping people who otherwise would end up in foreclosure, but often sellers contact me too late in the foreclosure process.

This means I need to rev up my marketing, track down the lender, drop the price way below market and call everyone I know to drum up an offer at the last minute. And if you’re too close to auction, your lender might pass on your request for a Short Sale.

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Foreclosure Alternatives: Short Sales and Deeds in Lieu

January 15, 2010
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If you’ve been denied a loan modification and can’t afford to pay your mortgage, you still have a couple of options. To avoid foreclosure, consider a Short Sale or a Deed in Lieu of foreclosure.

These options allow you to sell or walk away from your home without incurring liability for the loan deficiency.

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3 Questions to Ask Before Considering a Short Sale

December 29, 2009
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If you are thinking of pursuing a Short Sale because you’re falling behind on your mortgage payments, you might want to consider these questions before listing your house.
How Should I Price My Short Sale Property?

Ask any Short Sale brokerage and they will tell you to price your property at or near fair market value, but it’s a good idea to begin with the total debt amount owed to your lender. How frequently you reevaluate your price will depend on how far along you are in your foreclosure process and the value of the housing market at that point in time.

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Are Short Sales the Answer to California’s Housing Market Woes?

December 8, 2009
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Recently, the U.S. Treasury Department released new guidelines regarding real estate Short Sales. Under the Making Home Affordable program, their new plan aims to assist struggling homeowners by offering accessible aid and financial compensation. Essentially, this will make the inevitable happen more quickly, as the Short Sale process will be quicker than the foreclosure process, which should also speed up the housing market recovery process.

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