Tag Archives: missed mortgage payments

Short Sales

  With many Americans still facing the very real threat of foreclosure, many are looking for ways to avoid it. One option, and a topic that has garnered a lot of industry interest, is a real estate short sale. Short Sales have become an increasingly popular, and common foreclosure avoidance tactic for homeowners but what are […]


Short Sales: Who Qualifies?

A short sale in real estate occurs when the outstanding obligations (including all loans, lines of credit, etc.) against a property are greater than what the property can be sold for. Short sales are a way for homeowners to avoid bankruptcy or foreclosure proceeding by convincing the bank to  accept a discounted payoff, meaning the […]


Bank of America Short Sale

Bank of America Short Sales Bank of America was the first to introduce a new automated system called Equator that it is currently using to process all of it’s short sales of conventional loans (that is all of it’s non-FHA and VA  loans) as well as former Countrywide loans which it acquired when it purchased the company. Equator […]


FHA Reduces Waiting Period for Borrowers Who Experienced a Short Sale, Foreclosure or Deed-In-Lieu

The Federal Housing Administration (FHA) is allowing borrowers who went through a bankruptcy, foreclosure, deed-in-lieu, or short sale to re-enter the market and purchase a home using an FHA insured mortgage in as little as 12 months, according to a mortgage letter released Friday 8/23/13. Currently borrowers who experienced a foreclosure, deed-in-lieu, or short sale must […]



Fifth Third Short Sale

Fifth Third Short Sales – Getting Started The first step to initiating a short sale with Fifth Third is to list the home with a Realtor who specializes in short sales and has significant experience with this lender. Your agent will be critical to the success of your transaction and while many agents have begun […]


HAFA Program Posts New Short Sale Guidelines

Loan servicers / Lenders will have 30 days to send a borrower a short-sale agreement that includes the list price or acceptable sales proceeds under recent changes made to the Home Affordable Foreclosure Alternatives Program (HAFA), aimed at distressed borrowers who don’t qualify for other government loan modification and foreclosure alternative programs. Once a sales […]


Wells Fargo Short Sale

Wells Fargo Short Sales Out of all of the major banks, Wells Fargo is one of the most efficient when it comes to short sales and the processing and handling of these sales. Wells Fargo is also one of the only banks that actually provides a written short sale time line and on average they are […]