Great news! I just came back from Real Property Retreat in Tahoe (hundreds of Real Estate Attorneys, Law School Graduates and some Law Students attended), and the great news is that real estate attorneys are reporting that lenders are finally started to accept thier clients short sale offers.
It seems the lenders are finally getting the picture. Short sales are a great tool for borrowers in danger of losing thier homes to foreclosure and for the lenders as well.
Wondering what a short sale is: Short Sale. If you can sell your house but the sale proceeds are less than the total amount you owe on your mortgage loan, the lender may agree to a short sale payoff or "short sale" and write off the portion of the borrower's mortgage that exceeds the net proceeds from the sale. When a borrower receives a short sale offer, the borrower should contact the lender immediately. The lender normally takes them a month or two to consider the short sale settlement.
Patrice
Tuesday, June 9, 2009
6 Simple Steps to Avoid Foreclosure
6 Simple Steps to Avoid Foreclosure has been revised for 2009, to include government related programs designed to help borrowers keep thier home! http://www.avoidforeclosuremanual.com
Audio version to be released in July 2009.
Best Regards, Patrice
Audio version to be released in July 2009.
Best Regards, Patrice
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