article thumbnail

Why I Should Consider a Short Sale

Realty Biz

Many more homes have been sold since then and some have even gone through short sales. But what is a short sale exactly, and how is it any different than a regular sale, bankruptcy, or foreclosure? How does a short sale affect you as a homeowner? What You Need to Know About Short Sales.

article thumbnail

Why non-QM borrowers aren’t going away anytime soon

Housing Wire

Loans up to $3 million 12 or 24 months personal or business bank statements allowed 1099 earning statements accepted Two years seasoning required for bankruptcy, foreclosure, short sale or deed-in-lieu. Angel Oak’s Bank Statement loan is ideal for the self-employed.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What happens after the Fed’s rate hike?

Housing Wire

One of the unsung heroes of the most prolonged economic and job expansion ever recorded in history was the passing of the 2005 Bankruptcy Reform Act and the 2010 qualified mortgage rule under Dodd-Frank. As we can see below, the bankruptcy levels were extremely high before the bankruptcy law was passed in 2005.

article thumbnail

Understanding the Short Sale Process

CT Homes

A defining term that emerged shortly after the collapse was the “short sale”. In the years following, short sales were the driving force behind a majority of all total real estate transactions. But what is the short sale process and how does it work? . What is a Short Sale?

article thumbnail

Westchester County DA indicts six in $2M home deed theft case

Housing Wire

million in short-term “fix and flip” loans, in addition to securing $500,000 in COVID relief small business loans. According to the indictment, the group allegedly acquired a property in bankruptcy proceedings in a short sale, and two defendants moved in and occupied that home as their primary residence.

article thumbnail

Why home-price growth is still up 18% year over year

Housing Wire

The next job loss recession, when it happens, will have more foreclosures, short sales, and bankruptcies. The 2005 bankruptcy reform laws and the 2010 Qualified Mortgage laws, once passed, created an expansion that has produced the highest quality homeowners in our lifetime.

article thumbnail

Why This Is Not Like 2008 Again

Keeping Current Matters

Lehman Brothers) and many more into bankruptcy. Not all of the $700 billion was used, but the important point is that the government did not act with equal fervor to help flailing homeowners, millions of whom lost their homes to foreclosures and short sales. It created a panic that drove some large companies out of business (ex.