HomeLight

OCTOBER 11, 2021

You see a house you love, but the listing shows that it is an “active pending short sale.”. And just what is a short sale, anyway? Is a short sale home purchase for you? And can you still make an offer on an active pending short sale? Short sales defined . Wait, what?

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HomeLight

MAY 27, 2021

But when it comes to one of the key aspects of buying that home — how to get a mortgage loan — you may draw a blank. No one daydreams about filling out mortgage applications, and the process is complicated because you have to keep track of so many details and make so many choices. Source: (Matthew Henry / Burst).

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Loans Mortgages Title FHA loan 79

Realtor.com

DECEMBER 14, 2022

Getty Images / Realtor.com When it comes to making the largest purchase of their lives, most homebuyers would prefer to play it safe in choosing a loan. That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting.

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Fixed-rate mortgage Mortgages Loans VA loan 102

Realtor.com

DECEMBER 14, 2022

Getty Images / Realtor.com When it comes to making the largest purchase of their lives, most homebuyers would prefer to play it safe in choosing a loan. That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting.

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Fixed-rate mortgage Mortgages Loans VA loan 99

Keeping Current Matters

OCTOBER 21, 2020

Many housing experts originally voiced concern that the mortgage forbearance program (which allows families impacted financially by COVID to delay mortgage payments to a later date) could lead to an increase in foreclosures when forbearances end. Some originally forecasted that up to 30% of homeowners would choose to enter forbearance.

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Equity Banks Closing costs Loans 205

HomeLight

DECEMBER 1, 2021

Whatever the circumstance, you should act early if you’re suddenly struggling to make your monthly mortgage payment. We also connected with HomeLight Home Loans Mortgage Sales Leader Richie Helali, who offered an insider’s look at mortgage options that could help you hold on to your home — or let it go without falling into foreclosure.

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Purchase and sale agreement Short sale Loans Mortgages 104

The Close

DECEMBER 29, 2022

After all, great communication leads to closed deals. Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Acceleration clause.

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Purchase and sale agreement Title Proof of funds Pre-approval 98

HomeLight

SEPTEMBER 30, 2021

You’d like to sell your current home, but the mortgage isn’t paid off yet. Consider that most mortgages come with 15 or 30 year terms, while 52% of recent sellers sold before owning their home for 10 years, according to data from the National Association of Realtors. Your lender will receive their payout at the time of closing.

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Mortgages Debt-to-income ratio Equity Closing costs 99

HomeLight

JULY 31, 2020

These are the top home closing delays that could affect if and when you close on your new home, and how to overcome them. Loan approval. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. How it can delay closing. Dodge move.

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Closing Purchase and sale agreement Title search Earnest money deposit 108

RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Closing : A meeting during which ownership of a home is transferred from seller to buyer, usually attended by the buyer, the seller, both real estate agents and the lender.

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Pre-approval Pre-qualification Title search Inspection 62

HomeLight

JULY 31, 2022

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan. a reduction in “the interest rate on any pre-service loans to a maximum” of 6%.

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VA loan Purchase and sale agreement Short sale Pre-approval 67

HomeLight

AUGUST 31, 2021

A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments. Usually, a home goes into pre-foreclosure after several consecutive months of missed mortgage payments, and the lender issues a notice of default. Short sale. Source: (Adam Wilson / Unsplash).

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Pre-approval Short sale Banks Finance 95

The Close

APRIL 30, 2024

If the seller can offer full or partial seller financing at slightly better than market mortgage rates, a buyer may be willing to pay a little more for the property since they’ll save money on interest payments over time. Sellers can offer help with closing costs, a home warranty, or money toward upgrades or repairs.

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Agents Short sale Staging Sales 78

HomeLight

JULY 25, 2022

Deduct your outstanding mortgage balance and any costs of selling you incurred (such as real estate commission, closing costs, title fees, repairs, prep, and staging). This free tool will provide an estimate of the costs of selling your home and the potential net proceeds you might earn. It’s worth the cost.”.

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Closing costs Equity Short sale Agents 89

HomeLight

JULY 25, 2022

Like any investment, you don’t get profit if you hold it a short time.”. Here are some of the common concerns you may face: Cost of mortgage interest: At the beginning of your loan, a bigger percentage of your mortgage payment goes toward interest. of the loan amount. It’s worth the cost.”.

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Closing costs Equity Short sale Sales 86

HomeLight

SEPTEMBER 1, 2022

When you’re financing your home purchase with a mortgage, the lender wants to make sure the property you’re buying is worth what you’re paying for it. These are called comparable sales , or comps, because they should be similar to your home in terms of size, age, location, and condition. Foreclosures or short sales in the neighborhood.

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Purchase and sale agreement Earnest money deposit Short sale Loans 77

HomeLight

SEPTEMBER 30, 2020

Should you drop a full 20% on a house and avoid mortgage insurance , even if it nearly wipes out your savings? And what about those closing costs or repair expenses? Basically, the more you put down, the better loan terms you’ll get,” she says. How much will they set you back?

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Closing costs Loans Short sale Finance 81

HomeLight

OCTOBER 30, 2020

you’ve likely missed several months of mortgage payments or may be already incurring the lender’s attorney fees for your continued delinquency. Whatever stage you’re in, it’s natural to feel paralyzed with disappointment, sadness, and a sense of panic when those overdue notices and warnings come from your mortgage company.

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Short sale Banks Equity Mortgages 104

HomeLight

SEPTEMBER 8, 2020

One is if the house has gone through foreclosure and Fannie Mae owned the mortgage on it. You’ll find HomePath properties all over the country, and at a huge range of price points, because Fannie Mae backs so many loans. Fannie Mae is a mortgage guarantor, not a home seller. HomeReady mortgage. HomePath Ready Buyer.

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Closing costs Finance Loans Closing 74

HomeLight

MAY 24, 2022

Mortgage interest is tax-deductible , and many homeowners appreciate the deduction. If you only pay cash for the down payment, and take out a mortgage for the remainder of the purchase price, it keeps more money in your pocket. He estimates that on a $200,000 house, you could save between $5,000 and $6,000 in closing costs.

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Purchase and sale agreement Closing Title search Title 102

HomeLight

JULY 29, 2022

That’s because there’s still a lot that can go wrong at closing before you reach the finish line — from possibilities you’d considered (and feared) to surprises you never even imagined. Problem: Your credit took a nosedive since you applied for a loan. And ideally, you’ll get preapproved for a mortgage instead of just prequalifying.

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Closing Purchase and sale agreement Title Home sale contingency 103

HomeLight

DECEMBER 29, 2020

Sellers have equity, and short sales are unlikely. Also, homeowners with equity in their home are unlikely to need to negotiate a short sale because they won’t be underwater on their mortgage loan. It’s easier to qualify for a home loan. Homes for sale might be in questionable condition.

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Short sale Loans Equity Sales 88

HomeLight

MAY 23, 2022

These companies can help sellers cash out quickly and many will cover a seller’s closing costs. Be aware of minimum property standards for certain loans. When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan.

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As-is Purchase and sale agreement Inspection Closing costs 94

HomeLight

MAY 19, 2022

“As is” sales often attract investors searching for their next flip or buyers seeking a bargain, perhaps on a home in a great location with lots of potential. You are limiting the number of buyers that could purchase the property because of the type of loan they have,” Umanzor says. Fees: Sellers do not pay closing costs.

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As-is Inspection Investor Closing costs 98

HomeLight

JANUARY 10, 2023

Closing costs: You pay no closing costs; FL Cash Home Buyers covers them. Simple Sale has a network of cash buyers on its platform, and partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. Reviews : Simple Sale is a HomeLight platform, and HomeLight has 4.6

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Closing costs Purchase and sale agreement Closing Sales 81

HomeLight

DECEMBER 29, 2023

Brickle says that types of homeowners looking to sell “as is” are most commonly people just in over their heads —- due to a combination of the house needing repairs or being behind on mortgage payments with the threat of foreclosure looming. These companies can help sellers cash out quickly, and many will cover a seller’s closing costs.

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As-is Inspection Finance Investor 90

HomeLight

MAY 23, 2022

Schaus does business in the area of Fort Bragg, which means that Department of Veterans Affairs home loans ( VA loans ) are used very often by buyers. These companies can help sellers cash out quickly and many will cover a seller’s closing costs. Be aware of minimum property standards for certain loans.

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As-is Purchase and sale agreement VA loan Inspection 83

HomeLight

FEBRUARY 17, 2022

That includes an average of 32 days on market , plus the typical 54 days a buyer needs to close on a purchase loan. Closing costs: We Buy Ugly Houses covers most, if not all closing costs. Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Our advice?

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Closing costs Closing Sales Staging 71

HomeLight

MAY 23, 2022

These companies can help sellers cash out quickly and many will cover a seller’s closing costs. Be aware of minimum property standards for certain loans. When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan.

As-is 105

As-is Inspection Investor Closing costs 105

HomeLight

JANUARY 6, 2023

They provide a cash offer within 48 hours of evaluating the property and work with issues such as probate, foreclosures, short sales, tenant-occupied homes, or homes that need extensive repairs. Closing costs: Sellers pay no closing costs; As Is Now covers them. Reviews: Simple Sale is a HomeLight platform.

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Purchase and sale agreement Closing costs Closing Agents 73

HomeLight

MARCH 21, 2022

These companies can also provide a quick and flexible closing, reduce or eliminate the need for repairs, and in many cases will cover all of a seller’s closing costs. Fees: Sellers pay no closing costs ; We Buy Ugly Houses covers them. Fees: Sellers pay no closing costs ; We Buy Houses covers them.

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Closing costs Home sale contingency Investor Closing 92

Redfin

DECEMBER 7, 2020

homeowners will be on the hook for delinquent payments when mortgage forbearance ends. While some of those homeowners who are overleveraged or unaware of their options will contribute to a wave of foreclosures, most will be able to work with their lenders to either refinance their mortgage or sell to cash in on rising home values.

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Marketing Equity Investor Loans 76

HomeLight

FEBRUARY 28, 2022

Just request a fair cash offer, choose your closing date, and walk away. Closing costs: You pay no closing costs; Sell Quick California covers them. Past sellers comment on fast and transparent communication from owner Marc as well as quick sales and fair offers. Individual investor fees may vary.

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Closing costs Closing Sales Staging 75

HomeLight

AUGUST 10, 2022

After one showing, sellers get a no-obligation offer and can choose their closing date. Closing costs: According to the company website, Better House Buyers takes care of closing costs. Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. out of 5-star rating.

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Closing costs Purchase and sale agreement Closing Inspection 74

HomeLight

APRIL 21, 2022

You found your new home and want to avoid carrying two mortgages. Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. Carrying costs of paying mortgage, utilities, and insurance.

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Inspection contingency Home sale contingency Pre-approval Agents 105

HomeLight

FEBRUARY 28, 2022

The company provides quick offers, flexible closing dates, and $10,000 in earnest money to show that it is serious when buying real estate. Closing costs: The Buy-Out Company covers a seller’s closing costs , but you are still responsible for any prorated property taxes owed. out of 5 as well as a 4.73

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Closing costs Closing Sales Staging 75

HomeLight

FEBRUARY 16, 2023

Perhaps you have a new job offer out of state and don’t want the stress of leaving a mortgage behind. Maybe you’ve inherited property that’s not in the best shape, and a quick sale is the simplest way to settle the debts of an estate. Closing costs: Sellers pay no closing costs; We Buy Houses covers them.

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Purchase and sale agreement Closing costs Closing Sales 80