Many lenders are beginning to realize that it makes far more sense to allow a Shortsale and even to pay for one. One case of such a payment occurred to an Illinois homeowner who fell on hard times. Chase gave him a $20K for his troubles. This makes sense as a straight foreclosure will generally [...]

Congresswoman Susan Davis from San Diego recently introduced a bill into congress that requires trust deed holders to provide homeowners who attempting a short sale the “drop dead” price acceptable for approval. Finally, I am witness to a bill that needs no compromise discussions and should not really be subject to a debate. After all, [...]

I have always said that the key to maintaining relevance and being viable in a market is the ability to adapt and learn new skill sets. Lately, real estate agents are becoming quite adept at assisting in the clearance of non performing mortgages. Part of those skill sets are learning all of the facets of [...]

There is a lot of talk about short sales these days. In fact short sales accounted for more than 40% of all sales made in the third quarter of 2011. The question is, when is it right for you to do a short sale? I am a huge proponent of constraints theory, which I won’t [...]

In order to clear inventories from their books, banks are quietly offering incentives to buyers who would be willing to relocate or simply move out of their homes to facilitate a short sale. There are sporadic reports of some people being offered as much as $20,000 to move out of their homes.  But these are [...]

Short sales were up on average at a full 12% of all home sales in the United States according to a new report from Realty Trac. According the report, short sales on average increased 10% from the same amount last year. In California, short sales came in at  a whopping 25% of all home sales [...]

Buying a short-sale home is taking just as long as ever, despite promises by banks and lenders to streamline the process. Many times, banks just don’t respond to offers. If the property has more than one loan on it or a second lienholder, the process can get very sticky very quickly. Sellers have to submit [...]

The sale of new homes is on the decline for the third straight month as of July 2011.  But it is not only the sale of new homes that is falling, sales of existing homes are also down. Although the housing market is only about 1/5 of the economy, it has a big impact because [...]

There is an old adage that has never lost its luster.  “Buy when there’s blood in the streets” has served many investors quite well. And those buyers who have a job and have good credit are now following this mantra and buying homes. The short sale market surged and was reflected in recent housing numbers [...]

At least two of the largest US banks are emerging from the shell shock of the housing collapse. Wells Fargo and JP Morgan have begun to bite the bullet and move more of their bloated home inventories through short sales, rather than deal with the expense of a foreclosure proceeding. JP Morgan claims that they [...]