With the number of foreclosures skyrocketing in California in recent years, there is a lot of interest from would be buyers in purchasing bank owned properties which are also known as real estate owned or REOs.
What is a short sale?
What is a Short Sale?
Short sales occur when the value of the property is less than [...]
Continue reading about What are the differences between short sales, foreclosures, and REOs?
FREQUENTLY ASKED QUESTIONS
SHORT SALES: THE LONG AND SHORT OF IT
1. What is a short sale?
A short sale* is a sales transaction in which the seller’s lender agrees to accept a payoff of less than the balance due on the loan. In addition to absorbing any loss on the loan, the lender in most [...]
The current trend in the marketplace is focused on the impact of foreclosures across the country. This trend has resulted in various opinions on the types of distressed property sales (Short Sale, Deed in Lieu and Foreclosure) and its impact on a borrower’s FICO score.
This topic, which is raised in news articles, has generated many [...]
Continue reading about The Impact of Foreclosures on FICO Scores
In Santa Clara County credit is everything. A poor credit rating can affect your purchasing power and your ability to get a home loan. If you have a poor credit history there are many things you can do to restore your credit. Don’t rely on paying these professional institutions to restore your credit. Most of these companies are [...]
You hear on the tv and the paper that you can get a great deal on an REO. You expect 50% savings off your dream home, after all isn’t this the worst real estate market in history? Sounds great and it might just happen, but first you should take a look at some facts and [...]
Continue reading about Santa Clara County REO’s good deal or not?
Short sales happen when home values fall and sellers do not receive enough cash from a buyer to pay off their existing mortgages, providing lenders agree to take less than the amount owed to them.
On the surface, it may appear that a short-sale buyer is getting a good deal. Although a slim margin of short [...]
Continue reading about Should I Buy a Short Sale in the Santa Clara Valley?