9 Successful Short Sale Exit Strategies

Tag: Short Sale

9 Successful Short Sale Exit Strategies

There’s been a lot of attention in the news over the last year+ about short sales and how they are nearly impossible to do anymore. Well, I’m here to tell you that in my business, short sales are thriving. Short sales always have been, and continue to be, an integral part of my investing strategy. […]

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As Short Sales Increase, So Does Suspicious Activity

At the start of this year, the number of short sales has outpaced the number of REO sales in 12 states. Short sales are increasingly popular with investors as a way to maximize returns from foreclosure sales. Along with the increase in short sales comes an increase in “suspicious mortgage activity reports.” These reports don’t […]

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Streamlined Short Sales Coming Soon

As of a couple of months ago, short sales accounted for nearly 15% of all home sales in the country. That number continues to grow as homeowners see short sales as a viable alternative to foreclosure. While foreclosures still make up ¼ of all home sales, that figure is down from the previous two years. […]

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Pending Expiration Fuels Strategic Defaults

The current Mortgage Debt Relief Act of 2007 is set to expire on December 31 of this year. While there is a bill in the House that would extend it to 2015, homeowners are getting twitchy. So much so, in fact, that according to YouWalkAway.com, a foreclosure prevention agency, conducted a survey of borrowers and […]

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BOA Offering Relocation Cash for Short Sales

Bank of America is offering big incentives for short sales – as in, up to $30,000. The company announced last week that they would offer relocation assistance to those who initiate a short sale by the end of 2012, and close by Sept. 26, 2013. Sellers have to also work cooperatively and proactively with BOA […]

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Foreclosed But Back to Homeownership

More and more, Americans aren’t letting a foreclosure, bankruptcy or short sale prevent them from becoming homeowners again, and quickly. In year’s past, the only option seemed to be renting. But today, as rental prices are on the rise, they want to take advantage of low home prices. So where is the help coming from […]

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Which Lenders are the Fastest for Short Sales?

RealtyTrac recently put together a list outlining which lenders/servicers move through the short sale process the fastest and the cheapest. The frontrunners? Freddie Mac, Fannie Mae and FHA have the shortest timelines with 193 days, followed by Ally Financial at 321 days and PNC Financial at 353 days. The short sale timeline being used as […]

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2012 Could Be a Record Year for Short Sales

Short sales are on the rise. Compared to a year ago, the number of short sales being done increased 33%, according to RealtyTrac. In fact, short sales beat out REO sales in 12 states. In all, 32 states saw an increase in pre-foreclosure sales, typically short sales. There are also signs that lenders are more […]

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Short Sale Timeline Requirements Set By GSEs

This is big news for real estate investors, specifically anyone who does short sales. As of June 15, real estate agents working on short sale offers with loans backed by Freddie Mac or Fannie Mae should expect to receive a decision on the short sale within 15-30 days. This is part of the overall process […]

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Proposed Bill Would Prevent Foreclosures with Faster Short Sales

This is good news for real estate investors. Last month, three Senators (Murkowski, Scott Brown and Sherrod Brown) together proposed a bill called the “Prompt Notification of Short Sale Act,” which, in essence, is designed to speed up the short sale process. It would require “a written response from a lender no later than 75 […]

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