Short Sales / Foreclosures
By Elizabeth Weintraub, About.com Guide to Home Buying / Selling
Sellers who stop making mortgage payments -- and those headed into default who cannot refinance or work out financing alternatives with their lender -- have three options for sale: sell the property before foreclosure is final, give a deed-in-lieu of foreclosure to the bank or let the bank take the property in foreclosure. Buyers and investors often try to negotiate with the bank on short sales before the home foreclosure is complete, especially if the home is worth less than the outstanding mortgage balance.
Short Sales
The fundamentals behind a short sale, why lenders accept short sale purchase offers, tax consequences to short sale sellers and benefits to sellers and buyers to negotiate short sales. How short sales affect seller's credit.
- Distressed Homes in Default
- Short Sale Basics
- Before Buying a Short Sale
- Short Sales vs. Foreclosures / REOs
- Seller Short Sale Benefits
- Short Sale Tax Consequences
- How Short Sales Affect Credit
- Buying For Sale By Owner Short Sales
- Buy a Short Sale or Wait for Foreclosure to Happen?
- Reason to Sell on a Short Sale
- Qualifying for Short Sales
- How to Find Short Sales
- 11 Reasons Not to Buy a Short Sale
- Will a Short Sale Ruin Credit
- How Short Sales Affect Neighborhood Values
- Buying a Home Again After Going Through Foreclosure
- What Happens With Two Mortgages on a Short Sale
- Why So Many Subprime Mortgage Lenders Do Short Sales
- How to Find a Short Sale Buyer's Agent
- Top 5 Reasons Banks Reject Short Sales
Foreclosures
All about foreclosures, the risks and the profits. Whether you're an investor or first-time home buyer, foreclosures can be a great deal, but not without substantial risk and work. Here's how to protect yourself as a buyer or seller.
