Why is a short sale better than foreclosure?

A short sale is generally better than foreclosure because at the completion of the short sale the judgment, which is a result of a foreclosure, is eliminated or removed so on your record or your credit history, your credit record, whatever you want to call it, you don’t have a judgment in place. If you go forward with a foreclosure and there's a foreclosure sale, at the auction the judgment stays in place, the Read More

What is a short sale?

A short sale is a form of loss mitigation.  Generally a short sale is when the homeowner who is in default or is in foreclosure goes to sell the home and the amount owed on the mortgage is more than the fair market value of the property.  So the lender has to be shorted meaning the lender has to accept less money than what they are actually owed. So in order to do that you have to process the short sale and submit Read More

What are some of the most common mistakes homebuyers make in the closing process?

The most common mistake a home buyer makes in the closing process is not actually hiring an attorney prior to signing the contract. There are standard contracts like the FAR-BAR contract that have very detailed provisions that dictate the relationship between the buyer and the seller going forward all the way to closing and there are a lot of different stops on the way that could be problematic and if you don't have Read More

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