HomeLight

OCTOBER 30, 2020

Look at your most recent foreclosure communications from the bank to determine what’s owed, including all outstanding principal and interest, and subtract it from your estimated sale price. If your sale proceeds won’t cut it, the next question is whether you could bring money to the table to cover those costs.

Short sale 104

Short sale Banks Equity Mortgages 104

HomeLight

JULY 25, 2022

Here are a few of the details: Length of time: You must have used the home you are selling as your principal residence for at least two of the five years prior to the date of sale. It also does not have to be the two years immediately preceding the sale. Seller concessions (2%-6%). Overlap costs (1%-2%).

Closing costs 104

Closing costs Equity Short sale Agents 104

HomeLight

JULY 25, 2022

Choose a short sale: If you’re behind on your mortgage payments or owe more than the home’s current value, you may want to think about a short sale as a way to avoid foreclosure. That can include a short sale, foreclosure, deed in lieu of foreclosure, or loan modification. Seller concessions (2%-6%).

Closing costs 101

Closing costs Equity Short sale Sales 101