Many buyers look to short sales as a way to purchase a home at a steeply discounted price. A short sale occurs when the seller's lender accepts less than the full amount owed on the mortgage — a time-intensive approval process requiring reserves of patience as well as cash. For ...
Short sales accounted for approximately one-quarter of home sales in late 2011, surpassing foreclosures, according to Bloomberg. A successful short sale transaction benefits the seller, lender and ...Read More
Buying a home is an exciting event that keeps most soon-to-be homeowners busy for the four to six weeks it usually takes to close the sale. A lot happens between the time the seller accepts your ...Read More
When a homeowner owes more on their home loan than the property is worth, he may ask his lender for a short sale. This lets him sell the home with the lender forgiving the balance on the mortgage. ...Read More
Title insurance protects you and the lender on your home from claims against the property resulting from such issues as contractor’s liens, unpaid taxes or property disputes. You normally pay for ...Read More
Title insurance, a primarily American product, provides indemnity to lenders and homeowners against defects or issues with the title of a property. When you purchase a property by securing a ...Read More
Bond loans -- or mortgage revenue bonds -- are issued by states to subsidize mortgages for qualified buyers -- usually low- and middle-income people buying their first home or their first home after ...Read More
Short-sale deals have several hoops a buyer and seller must jump through to make the deal happen. The usually drawn-out process involves two important appraisals: one for the lender of the existing ...Read More
The way you hold title to your house determines your ownership rights. The title information identifies whether you are the sole owner or share ownership with others. This directly affects your right ...Read More
Few people sign real estate sale contracts with the intention of breaking them. Nevertheless, there are times when a buyer feels that the benefits of terminating the agreement outweigh the risks. The ...Read More
Most Americans consider owning a home to be a key component of the American dream. Home ownership, along with the associated increase in equity in that home, helps families build net worth. However, ...Read More
When you buy a new house, it has both one-time and far-reaching tax implications. At the time of closing, most communities levy taxes on the value of the real estate that changes hands and some also ...Read More
Warranty deeds and deeds of trust are two terms you'll hearing often during the home buying process. The deed of trust is used by the lender to secure interest in the property should the buyer ...Read More
Preparing a down payment for a home can require significant planning. Placing your down payment funds in escrow can help ensure that your home loan financing occurs on time and without any ...Read More
Debt-to-income ratios tell lenders whether you can manage your debts. Keeping your debts in control represents the foundation of sound financial health. Lenders want to see low front-end ...Read More