Foreclosures and short sales can be very tricky and changing quickly as to the rules that the lenders follow.
What is a Short Sale?
A short sale is a transaction where the net proceeds from the sale of a property are not enough to cover the seller's mortgage obligations and closing costs, such as property taxes, transfer taxes and the real estate practitioner's commission.
We have collected a few articles that can help you understand the short sale and foreclosure market. Please contact us for additional information.
April 29, 2009
Taking Advantage of Government
Short Sale Incentives
Recently announced government incentives for mortgage servicers to process short sales up to $1,000 per transaction-will significantly increase this market opportunity for real estate agents. Additionally, an important group that has prevented short sales in the pastsecond lien holders-will be granted up to $1,000 in short sales. Finally, and most important, homeowners will receive up to $1,500 "cash for keys" for short sale transactions.
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