RE/MAX First

“So, you’re telling me that unless I can get you the TPG form filled out, then you will reject this short sale and subject your company to a potential $17,000 loss,?” “Yes, you are right”, she replied.

A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home. We gave them the normal answer: “It’s much better for your credit.

“I have not been late on any payments but my income will be changing dramatically towards the end of the summer. What is your exact service and what are the fees involved?

Lenders and the federal government, prompted by the sheer volume of loan modification and short sale requests, have overhauled their systems and programs, making the foreclosure avoidance process much easier than in the past.

Have you heard the following myths about short sales? Myth #1: You can buy short sales for dirt cheap and then turn around and resell them for a profit.

Many think that the short sale lender is in charge during a short sale. Not true! The short sale lender can only veto short sale offers. They can’t put the property up for sale or decide who to sell it to. Only the home owner can do that

A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home. We gave them the normal answer: “It’s much better for your credit.”

The Star Tribune, a newspaper in Minneapolis, recently ran a story about loan modifications. Here is an excerpt from the article:

Should you walk away or should you stay? That's the big question. Here is how I think you should determine whether or not you should walk away from your home.

We often get asked if a short sale is even worth the effort. "Do I need to have my short sale "Approved" by my lender before I put my home on the market?" one seller asked us.