Short sale transactions are traumatic and unpleasant events but can be the straw that saves many drowning homeowners. What happens though, in short sale and foreclosure cases where the lender still goes after the homeowner after the sale has been concluded?
This was the case for one Fredericksburg resident who, after the successful conclusion of her [...]
The implosion of the residential property market has spread a pall of doom over the lives of millions of homeowners and it is often impossible for many to see any light in the resultant financial gloom. Fortunately for some who have come to accept terms such as short sale and foreclosure as part of their [...]
In an attempt to institute actions to mitigate the present nationwide tidal wave of residential foreclosures and measures to prevent the recurrence of the phenomenon the US Department of Housing and Urban Development (HUD) has released a report to congress outlining these recommendations.
According to the HUD report one of the biggest contributors to the initial [...]
Yes – there can be no better timing as of now, to get out of your impending foreclosure, by selecting the escape route of Short Sales. The foreclosure crisis is at its high in all parts of the nation, allowing certain fluctuations in the monthly statistics though. As of January 2010, totally 315,756 US properties [...]
If you browse the authentic real estate sites online, you will invariably find two striking realities. One – the foreclosure crisis has hit very hard some of the most-sought after locations of the U.S. country and two – as an alternative to escape foreclosure, the troubled home owners select Short Sales in these areas.
As per [...]
Are you skeptical about Short Sales being the escape route for foreclosure? See this – the latest monthly survey by Campbell/Inside Mortgage Finance. They conducted a survey on Real Estate Market conditions, which says Short Sales are showing an upward trend of 15.9 per cent of home purchase transactions, during the month of January.
In comparison [...]
It is not over yet. Millions of homes are still struggling under foreclosure crisis. Yet it is heartening to go through the figures reported in authentic real estate sites for the month of January 2010. Yes – amidst the gloomy situation engulfing the entire US country and creating untold anxiety in the minds of troubled [...]
The hassles of short sales have to be overcome to solve the housing crisis. A short sale takes place when a troubled house owner unable to manage the mortgage finds a buyer to purchase the property at a price that is shorter or less than the due loan amount. But to do so the borrower [...]
The crisis in the housing market made its debut with foreclosures in residential units – primarily with those who had sub-prime mortgages. These mortgages were granted without checking on the financial capability of the loan taker and thus when the interest spiraled they began to default. It was a cascade of foreclosures like nine pins [...]
Foreclosure scams are like insult to the injury of foreclosure and are continuing to plague the harassed homeowners. In Arizona the situation is particularly bad. To help the people a law has been introduced to control the mushrooming of firms’ falsely promising help as regards modifications of loans.
The bill (Senate Bill 1130) is prohibiting “foreclosure [...]
I had two properties with no renters, and both were “under water”. I had resolved myself to letting them go into foreclosure. This would have crushed my credit and I was unsettled about it to say the least.
I had a credit score of 770 and was in danger of loosing the good credit my wife and I had worked so hard to get. I decided to give Eureka a try and I am very glad I did. I just closed one loan and the other is in the process of negotiations and should close very soon.
As soon as I had this service on my side, I was able to point the creditors to them for any questions. Once the creditors had this information on file, their calls slowed to a crawl, almost overnight. I have not heard from any of the creditors from either property for a long time. I felt like I finally had someone on my side. For the first time in months, I was able to sleep without worrying about what the future held in store.
If you are in a situation where you need to sell your property and get out from under that debt, Eureka is your answer. I do not need to wish you “good luck” as Eureka will do everything they can to make your problems a thing of the past. The sooner you act, the better things will be. Give them all the information they ask for and let them take over. You’ll be glad you did.
Alan Moses
Germantown, MD
