Short Sales & Foreclosures

More Home Buyers Qualifying for a Home Loan, Good News for Real Estate Market:

Now that seven years have passed since the beginning of the housing market meltdown in 2007, home owners who lost their home to foreclosure or short sale, can now qualify for a home loan. Real estate analytics company RealtyTrac says the Las Vegas metropolitan area should benefit from the resurrection of “boomerang buyers.” They represent […]

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Foreclosures

What is a Foreclosure? A foreclosure is defined as the legal process by which an owner’s right to a property is terminated, usually due to default. Typically, a foreclosure will involve a forced sale of the property at a public auction with the proceeds being applied to the mortgage debt. Timeline of a Foreclosure What […]

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Short Sale

short-sale

WHAT IS A SHORT SALE? A short sale is when a lender agrees to accept an amount less than the payoff on a loan actually is. In most cases the home owner owes more on their property than it is currently worth. A seller must qualify for a short sale by proving a hardship, mainly a financial hardship. The […]

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