by designonetest | Oct 26, 2022 | Blog, Real Estate Law
There are two primary types of foreclosure in the United States. The type of foreclosure filed will depend on the terms of your mortgage contract and the relevant laws of your state. Most foreclosures will be either a Judicial Foreclosure or Non-Judicial Foreclosure....
by designonetest | Oct 26, 2022 | Blog, Real Estate Law
Homeownership is a big part of the American dream. A safe place to shelter after a long day of work, a place to rest, entertain, and maybe even raise a family. In 2021, 6.12M homes were sold, according to the National Association of Realtors. Millions of individuals...
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...
