by designonetest | Oct 26, 2022 | Blog, Real Estate Law
There are three main consequences of a short sale. Each can have long-term financial and legal consequences and must be considered carefully before entering into a short sale as a solution to missed mortgage payments. Failure to Secure a Deficiency Waiver As mentioned...
by designonetest | Oct 26, 2022 | Blog, Real Estate Law
The Consumer Financial Protection Bureau, a U.S. government agency, warns consumers that there are states in which homeowners are responsible for the difference between the value of your property and the amount you still owed on the mortgage loan. This amount, which...
by designonetest | Oct 26, 2022 | Blog, Real Estate Law
Most short sale homes are listed for sale just like any other home on the market. That said, the sales process is much more complex. The Freddie Mac website advises homeowners exploring short sales to work with a qualified real estate professional. Process Once a...
by designonetest | Oct 26, 2022 | Blog, Real Estate Law
If a homeowner loses the ability to meet the financial obligations of their mortgage loan, a short sale is an alternative to foreclosure. Still a complex process with financial and legal consequences, a short sale can be advantageous to multiple parties in the...
by designonetest | Oct 26, 2022 | Blog, Real Estate Law
Purchasing a home is often the biggest financial investment in an individual’s lifetime. A house becomes a home, a place of sanctuary, rest, and peace. When a person purchases a home with a mortgage loan, the lender goes through an extensive loan application and...
