HomeLight

SEPTEMBER 30, 2020

For a homeowner, that might look like not being able to make mortgage payments for a period of time. If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. Short sales operate according to the lender’s approval, requirements, and timeline.

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The Residential Specialist

DECEMBER 21, 2022

Experts who worked through The Great Recession of 2008 share how to handle tricky short-sale transactions. With its perfect storm of record-low property values and record-high unemployment, The Great Recession of 2008 triggered a rash of residential short sales. Short sales are not suited to all REALTORS ®.

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Short sale Sales Banks Principal 52

Real Estate News

DECEMBER 18, 2023

Even if the hoped-for economic “soft landing” isn’t so soft, don’t expect to see a wave of short sales and foreclosures next year.

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Short sale Land Mortgages Sales 271

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 104

CT Homes

FEBRUARY 3, 2022

As difficult as it may be to believe, the mortgage collapse was over ten years ago. 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. What is a Short Sale?

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Short sale Sales Pre-approval Principal 52

HomeLight

JULY 31, 2020

You don’t see as many short sales in 2020 as in 2010; despite their name, they’re neither short nor simple endeavors. If a homeowner is behind on their mortgage payments, owes more money than the property’s current value, and is in danger of foreclosure, a lender may agree to terms of a short sale.

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Short sale As-is Purchase and sale agreement Sales 98

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 91

Housing Wire

SEPTEMBER 16, 2021

When it comes to housing and mortgage markets this fall, most attention is being focused on the expiration of eviction and foreclosure moratoria and the pending completion of forbearance terms for many homeowners. Only 0.65% of exits to date have been into other resolutions, which would include short sales and deed-in-lieus.

Mortgages 485

Mortgages Loans VA loan Investor 485

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 405

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 75

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? Sometimes life happens, and a current homeowner can’t afford to keep paying their mortgage … and the remaining payoff amount is more than the home is currently worth. What’s a short sale?

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Short sale Sales Banks Due diligence 66

Housing Wire

NOVEMBER 15, 2022

While originations are down due to a volatile mortgage market, the population of underserved borrowers who require non-QM products is on the rise. Credit Challenges: Borrowers who have recovered from a foreclosure or bankruptcy do not have wait seven years to get a mortgage.

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Bankruptcy Short sale Investor Title 384

Housing Wire

NOVEMBER 11, 2022

While elevated mortgage rates, sluggish home sales and high inflation have taken a significant toll on the housing industry, it’s unlikely that these issues will cause home prices to drop next year, at least according to National Association of Realtors (NAR) Chief Economist Lawrence Yun.

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Short sale Mortgages Sales Residential 496

Housing Wire

AUGUST 31, 2020

Most mortgage lenders are looking for ways to automate their mortgage servicing operations in order to cut costs, maintain profitability and effectively manage their compliance and reporting to various agencies (e.g., The system also offers loss mitigation, modifications, short sales and repayment tracking functionality.

Mortgages 263

Mortgages Investor Short sale Loans 263

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 273

Keeping Current Matters

NOVEMBER 4, 2021

million households lost their homes to a foreclosure, short sale, or because they simply gave it back to the bank. Many projected up to 30% of all mortgage holders would enter the forbearance program. As of last Friday, the total number of mortgages still in forbearance stood at 1,221,000. In reality, only 8.5%

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Short sale Equity Sales Banks 251

CT Homes

MARCH 7, 2024

If you’re a homeowner pondering the possibility of selling your house, you might find yourself wrestling with a common question: Can you sell a home with a mortgage ? It’s a widespread belief that a mortgage chains you to your property until every last penny is paid off.

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Purchase and sale agreement Mortgages Equity Short sale 78

Housing Wire

APRIL 8, 2021

The share of Auction.com foreclosure sales with surplus funds has steadily risen in recent years, hitting a new record high of 46% in 2019 before slipping slightly to 44% in 2020 — still more than twice the share of foreclosure sales with surplus funds between 2012 and 2015.

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Equity Short sale MLS Sales 431

Housing Wire

JUNE 8, 2022

The monitoring solution also will enable the examination of current servicing customers as well as non-customer lists and alert loan servicers to possible short sales, the firm said. Xactus, with its mortgage verification suite, aims to close more loans quickly and enhance profitability.

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Short sale MLS Banks Loans 365

Keeping Current Matters

JULY 28, 2021

million households lost their home to a foreclosure, short sale, or because they simply gave it back to the bank. Many experts projected 30% of all mortgage holders would enter the forbearance program. As of last Friday, the total number of mortgages still in forbearance stood at 1,863,000. 2018: 279,040. 2019: 277,520.

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Short sale Equity Principal Mortgages 263

Housing Wire

DECEMBER 28, 2022

First, mortgage lending standards have remained high after the last bubble. People can afford to pay their mortgages. There won’t be forced home sales like we saw in the crisis. As a result of the fallout from the great recession, mortgage quality has been far more regulated and viewed with suspicion.

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Marketing Equity Mortgages Short sale 491

Housing Wire

MAY 20, 2022

Consider a Short Sale. If you’re in over your head in debt and can’t find your way out, your mortgage company may approve a short sale. This means you sell the home for less than the amount you owe on the mortgage, but the lender accepts it as payment in full.

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Short sale Investor Banks Agents 409

Housing Wire

MAY 9, 2022

housing market is more tied to mortgage buyers. We are a monster compared to them in population and the majority of homebuyers in America use mortgages. When mortgage rates rise, two things always happen here in America. As we can see below, our current situation isn’t about mortgage credit getting out of hand.

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Short sale Mortgages Equity Sales 530

Housing Wire

APRIL 25, 2023

Mortgage underwriting standards were much tighter for the past decade than in the era preceding the 2008 financial crisis. The average FICO score for a new mortgage has averaged more than 700 for the past 10 years consecutively. Inventory was so tight that homes often went to buyers with large down payments or even all-cash offers.

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Short sale Staging Mortgages Banks 383

Housing Wire

JUNE 22, 2021

Servicers’ forbearance portfolio volume fell 11 basis points last week to 3.93%, according to a survey from the Mortgage Bankers Association. In fact, calculating mark-to-market CLTVs of homeowners in some form of mortgage postponement through February 2021, Black Knight estimated that 96% have at least 10% equity in their homes.

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Short sale Loans Equity Mortgages 397

Housing Wire

APRIL 5, 2021

Pre-foreclosure sales are a promising alternative to foreclosures – here’s why. 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. Presented by: Auction.com.

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Short sale Loans Mortgages Sales 544

Housing Wire

MAY 18, 2022

Mortgage servicers: If you’re not obsessed with customer service, you’re falling behind. In a world where disparate physical spaces are steadily merging in the central hubs of mobile devices, consumers consider their mortgages one more digital service in need of perfecting.

Loans 384

Loans Short sale Mortgages Closing 384

Housing Wire

DECEMBER 21, 2022

From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NAR Chief Economist Lawrence Yun. Mortgage rates spiked in March, and then the new listing data started to decline at the end of June.

Sales 528

Sales Mortgages Principal Short sale 528

Housing Wire

MARCH 3, 2022

A growing chorus of mortgage servicers, consultants, and lobbyists support the idea of having forbearance programs as a permanent solution in the industry’s loss mitigation toolkit, rather than only a temporary relief for wide-scale events such as financial crises and pandemics. So, it may start to come down.

Principal 370

Principal Loans Lending Finance 370

Realty Biz

AUGUST 23, 2023

Are you wondering what happens with reverse mortgage foreclosures? A reverse mortgage foreclosure occurs when a homeowner cannot meet the requirements of their reverse mortgage loan, which can lead to the sale of their home. Understanding reverse mortgages and the foreclosure process is crucial for homeowners.

Mortgages 97

Mortgages Loans Sales Short sale 97

Housing Wire

JULY 1, 2021

Servicers should also be sharing the mathematics of mortgage forbearance. Hubzu for Signature Seller Assisted Sale (SSAS), standard short sale, foreclosure and ultimately REO management and sales) that can perform well, no matter the volume. All those missed payments and interest need to be paid back.

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Short sale FHA loan Equity Sales 236

Lighter Side of Real Estate

APRIL 6, 2022

You’re probably well aware that mortgage rates are rising. Which means you’ve probably been reading or hearing about adjustable rate mortgages making a comeback. The 30-year fixed rate mortgage has been so historically low, they haven’t been all that necessary to consider. So your rate isn’t fixed for the life of the loan.

Mortgages 141

Mortgages Fixed-rate mortgage Banks Lending 141

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. However, 30% of these mortgage holders lost their homes, meaning they are not selling their property when needed. mortgage holders.

Equity 291

Equity Short sale Loans Mortgages 291

Housing Wire

FEBRUARY 21, 2023

Although affordability remains challenging for many, distressed sales, foreclosures and short sales represented just 1% of sales in January, the same as in December and a year ago. However, the annual sales pace in the West is still down the most out of the four regions year over year, dropping 42.4%

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Sales MLS Short sale Marketing 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. The survey covers the full month of March and represents 73% of the first-mortgage servicing market (36.4

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Loans Mortgages Staging Short sale 109

Housing Wire

MARCH 17, 2021

While we don’t expect an onslaught of foreclosures like we saw during the mortgage meltdown before the great recession, we can foresee a time after the current forbearance scenario ends in which as many as 500,000 to 700,000 foreclosures may occur,” said Patrick Stone, WFG executive chairman and founder. Presented by: Auction.com.

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Title Short sale Lending Loans 370

Calculated Risk Real Estate

SEPTEMBER 8, 2023

Refinance activity declined significantly in early 2022 as mortgage rates increased, and I was expecting MEW to also decline as fewer homeowners used cash-out refinancing. Quarterly Increase in Mortgage Debt Here is the quarterly increase in mortgage debt from the Federal Reserve’s Financial Accounts of the United States - Z.1

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Closing Equity Principal Short sale 125