HomeLight

AUGUST 16, 2021

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. What exactly is a short sale? It’s a long sale.

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Short sale Sales Purchase and sale agreement Banks 103

Dwell Real Estate

AUGUST 20, 2021

In Sarasota’s real estate market today short sales are nearly unavoidable. I talk with buyers every day and many of them have questions about how short sales work, how they are different than regular sales, etc. Misconception: A cash offer will make a short sale move faster than an offer with financing.

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Short sale Sales Pre-approval Banks 52

Housing Wire

NOVEMBER 15, 2022

There will always be a population of borrowers who cannot qualify for a home loan under traditional guidelines. Originators who actively work within the non-QM space are closing additional loans every month. The solution: Bank Statement loans. . Angel Oak’s Bank Statement loan is ideal for the self-employed.

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Bankruptcy Short sale Investor Title 384

HomeLight

AUGUST 31, 2020

You may have heard that short sales, foreclosures, or bank-owned properties offer great opportunities for a steal , but what do these different terms mean, and how does the homebuying transaction work for each? What’s the difference between buying a short sale vs. a foreclosure, and where can the best deals be had?

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Short sale Sales Banks Inspection 88

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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Short sale Sales Banks Backup offer 72

Housing Wire

FEBRUARY 1, 2021

The great promise of short sales and other distressed pre-foreclosure sales as a foreclosure alternative is most fully realized in a competitive and transparent online auction marketplace, according to recent data from the Auction.com Market Validation Program (MVP) for pre-foreclosure sales. More than 45% of the 1.7

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Sales Pre-approval Short sale MLS 410

Housing Wire

JULY 1, 2022

Home forfeiture actions, including completed foreclosure sales, short sales, and deed in-lieu-of- foreclosure actions also grew by 26.8% were “combination modifications,” where interest rate reductions and term extensions are applied to a loan to help bring down a borrowers mortgage payment.

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Banks Mortgages Principal Short sale 384

Housing Wire

JULY 11, 2023

The Westchester County District Attorney announced on Friday that it has indicted a group of six individuals and a corporation for allegedly stealing property deeds from distressed homeowners, fraudulently accessing mortgage loans, and evading state taxes. They ultimately defaulted on the mortgages, the district attorney claimed.

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Bankruptcy Short sale Loans Title 284

HomeLight

OCTOBER 5, 2020

But what if it’s a different kind of sale … for example, how much should you offer on a short sale? Enter the short sale : a solution for the seller, and a special opportunity for a buyer. What’s a short sale? Short sales are unique because they require the approval of the seller’s lender.

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Short sale Sales Banks Due diligence 63

Housing Wire

JUNE 8, 2022

Solutions like active listing scan will help customers “close more loans more quickly,” he added. . In May, the inventory of homes for sale rose 8%, marking the first inventory rebound since June 2019. Xactus, with its mortgage verification suite, aims to close more loans quickly and enhance profitability.

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Short sale MLS Banks Loans 370

RIS Media

APRIL 21, 2022

The total number of loans currently in forbearance decreased by 13 basis points in the past month from 1.18% of servicers’ portfolio volume to 1.05%, according to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey. million loans), according to the MBA. million loans), according to the MBA.

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Loans Mortgages Staging Short sale 106

Housing Wire

NOVEMBER 3, 2023

*Rebates are not available in all markets or where prohibited by law and are subject to lender approval; may not be available for all transaction types, including but not limited to Short Sales, For Sale by Owner (FSBO), New Construction and iBuyer sales. Total credits to borrower cannot exceed actual closing costs.

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Closing costs Short sale Technology New Construction 410

Housing Wire

JUNE 22, 2021

Fannie Mae and Freddie Mac loans once again made up the smallest share at 2.05% ? while Ginnie Mae loans in forbearance fell 7 basis points to 5.15%. The percentage of loans in forbearance for depository servicers also dropped 3 basis points to 4.16%. resulted in a loan deferral/partial claim. Another 24.1%

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Short sale Loans Equity Mortgages 397

RIS Media

MARCH 23, 2022

The total number of loans now in forbearance decreased by 12 basis points, from 1.3% of servicers’ portfolio volume in the prior month to 1.18%, according to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey, released last week. The share of other loans (e.g., resulted in a loan deferral/partial claim.

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Loans Mortgages Staging Short sale 98

RIS Media

FEBRUARY 25, 2022

The number of loans now in forbearance decreased by 11 basis points from 1.41% of servicers’ portfolio volume in the prior month to 1.30% as of January 31, 2022, according to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey released this week. The share of other loans (e.g., By stage, 26.8%

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Loans Mortgages Staging Short sale 98

Housing Wire

APRIL 12, 2021

Holmes said the new integration enables commercial and private money loan officers using LendingWise to streamline their processes and obtain a business owner’s credit report from Credit Plus – without leaving the LendingWise platform. Download this case study to find out about the integration process and the results it yielded.

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Commercial Lending Loan Officer Loans 311

Housing Wire

MAY 18, 2022

” The report found that close to 330,000 homeowners with delinquent loans exited forbearance at the end of last year with no loss mitigation solution in place. Of that sum, 274,000 were federally backed loans. Of the 8 million borrowers that opted for forbearance, close to 90% have exited, the report stated.

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Loans Short sale Mortgages Closing 384

Housing Wire

JULY 1, 2021

they may not be able to modify the loan, sell quickly or whatever else and thus end up foreclosed upon). This will be especially true for lower-income households with FHA loans that started with very little equity to begin with due to the low-down payment requirement. All those missed payments and interest need to be paid back.

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Short sale FHA loan Equity Sales 300

Housing Wire

MARCH 3, 2022

” Forbearance allows homeowners to defer mortgage loan monthly payments due to financial hardships, remaining in their homes. Critically, during the pandemic, a share of borrowers in forbearance kept paying their mortgage loans monthly. of its serviced loans were in forbearance as of Dec. As of December 31, 1.3%

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Principal Loans Lending Finance 370

Keeping Current Matters

SEPTEMBER 8, 2021

Investopedia defines it like this: “ Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property. Loan modification. Short sale. Deed-in-lieu of foreclosure. Deed-in-lieu of foreclosure.

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Equity Short sale Loans Sales 212

Housing Wire

MARCH 17, 2021

WFG Title Insurance will now offer forbearance, loan modification, and foreclosure information reports as part of its general title and closing services. ” Pre-foreclosure sales are a promising alternative to foreclosures – here’s why. Presented by: Auction.com.

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Title Short sale Lending Loans 370

Housing Wire

APRIL 8, 2021

The increased market size Wells refers to is best demonstrated in the third-party buyer sales rate for foreclosures brought to auction on the Auction.com platform compared to the overall market. Short sales really provide for a graceful exit from the property if the homeowner can no longer afford the mortgage,” Wells said. “So

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Equity Short sale MLS Sales 432

Housing Wire

SEPTEMBER 16, 2021

It is important to note that in MBA’s NDS, loans are marked as delinquent if payments are not made in accordance with the terms of the mortgage. Thus, even if loans are in forbearance, if the borrower does not make a payment, the loan is counted as delinquent. Source: MBA’s National Delinquency Survey. This represents about 1.5

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Mortgages Loans VA loan Investor 485

Housing Wire

APRIL 5, 2021

To manage a potential wave of foreclosures, the CFPB’s proposed change would permit servicers to offer certain streamlined loan modification options to borrowers with COVID-19-related hardships based on the evaluation of an incomplete application. Pre-foreclosure sales are a promising alternative to foreclosures – here’s why.

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Short sale Loans Mortgages Sales 544

Housing Wire

APRIL 25, 2023

The vast majority of new mortgages were fixed rate loans that were originated or refinanced at the lowest rates of all time. Back when prices were falling by as much as 50% or 60%, California was at nearly 18 months of housing supply as REOs and short-sales flooded the market. In March 2023, it was just 2.2

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Short sale Staging Mortgages Banks 384

Housing Wire

MAY 9, 2022

A lot of mortgage debt went away due to foreclosures and short sales, bringing home prices way down. With all the nested equity built in, a foreclosure process at scale would have to occur in a deep job loss recession with loans done late in an economic expansion. Then, after all that, the great financial crisis happened.

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Short sale Mortgages Equity Sales 530

Housing Wire

OCTOBER 1, 2021

According to the new data, high-equity borrowers are around 40% less likely to lose their homes to involuntary liquidation, such as short sale, foreclosure sale, or deed-in-lieu. A total of 79% of borrowers in forbearance exited the plan by reperforming on their mortgage, paying off the loan, or refinancing for sale.

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Equity Short sale Loans Mortgages 295

Keeping Current Matters

JANUARY 13, 2021

Yanling Mayer, Principal Economist at CoreLogic , recently revealed : “A distributional analysis of forborne loans’ payment status reveals that more than one third (39.1%) of all forborne loans are now 150+ days behind payment, while as many as 1-in-4 (25.5%) are 180+ days past due.”. Though 29.4%

Equity 236

Equity Short sale Principal Loans 236

Realty Biz

JULY 19, 2022

Many of these will be new investors that don’t have experience with the pre-foreclosures, short sales, and foreclosures, that occurred during the Great Recession. The seller has options as long as the house is worth more than the outstanding loan. The primary option when a house is worth less than the loan is a short sale.

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Purchase and sale agreement Short sale Loans Inspection 106

Calculated Risk Real Estate

SEPTEMBER 8, 2023

However, in mid-2022, homeowners switched to using home equity loans (2nd loans) to extract equity from their homes. Note the almost 7 years of declining mortgage debt as distressed sales (foreclosures and short sales) wiped out a significant amount of debt.

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Closing Equity Principal Short sale 125

Housing Wire

AUGUST 31, 2020

The system also offers loss mitigation, modifications, short sales and repayment tracking functionality. Extraordinary value: Mortgage Servicer is a full servicing system, from loan boarding to payoff and secondary marketing. They won’t lose valuable production time waiting for someone to return calls or answer emails.

Mortgages 283

Mortgages Investor Short sale Loans 283

Calculated Risk Real Estate

MARCH 7, 2024

However, in mid-2022, homeowners switched to using home equity loans (2nd loans) to extract equity from their homes. Note the almost 7 years of declining mortgage debt as distressed sales (foreclosures and short sales) wiped out a significant amount of debt.

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Closing Equity Principal Short sale 68

Keeping Current Matters

MAY 26, 2021

According to NAR, the index: “…measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.”. It takes these three factors into account and determines an overall affordability score for housing. Bottom Line.

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Short sale Loans Mortgages As-is 261

Keeping Current Matters

SEPTEMBER 1, 2020

In essence, purchasing a home while mortgage rates are this low may save you significantly over the life of your home loan. At that time, distressed properties, like foreclosures and short sales, dominated the market. Today’s low rates are off-setting rising home prices because it’s less expensive to borrow money.

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Short sale Loans Mortgages Closing 269

Realty Biz

JANUARY 19, 2023

If you are spending more on a property than it is worth, your loan balance can exceed the home's overall value. One such option on the table is a short sale. A lender may not take the bait and agree, and a short sale could damage your credit, though not as much as a foreclosure. Is Selling a Smart Move?

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Short sale Equity Loans Mortgages 88

Realty Biz

JANUARY 1, 2021

A property goes into pre-foreclosure when a mortgage company notifies the borrower that they are in default on their loan. Short Sales . A short sale occurs when a homeowner puts the house up for sale at a smaller price than is owed on the mortgage. Jordan Matin, Portland Homes for Sale.

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Short sale Pre-approval Banks Loans 117

Calculated Risk Real Estate

DECEMBER 7, 2023

However, in mid-2022, homeowners switched to using home equity loans (2nd loans) to extract equity from their homes. Note the almost 7 years of declining mortgage debt as distressed sales (foreclosures and short sales) wiped out a significant amount of debt.

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Closing Equity Principal Short sale 70