by David Mortaz | May 3, 2013 | Short Sale Expert Advice
Just like any other transactions, Short Sales are prone to abuse and fraud. In this posting we will cover Upfront Fees and why they are considered illegal since the home owners could be influenced to consider Short Sales where they might have other options to avoid...
by David Mortaz | May 3, 2013 | Home Buyer Tips, Short Sale Expert Advice
With FULL disclosure by the buyer of their intent to resell a Short Sale property, there is no fraud and it’s NOT illegal to flip a Short Sale property. However, the fraud cases arise from non-disclosure of the BC transaction where the principals of the...
by David Mortaz | May 2, 2013 | Short Sale Expert Advice, Short Sales
Deed in Lieu is one the options available to home owners who are struggling to make their mortgage payments. In the case of Deed in Lieu, owners agree to transfer the title of the property to the lender instead of a lengthy foreclosure process. Deed in Lieu...
by David Mortaz | May 2, 2013 | Short Sale Expert Advice, Short Sales
Foreclosure is a legal process where the lender acquires the title of the property from an owner who has stopped making payments on the loan. However, the implication of a Foreclosure are severe drop in the owners credit score and substantial loss in their ability to...
by David Mortaz | May 2, 2013 | Short Sale Expert Advice
Well, it took 12 days from the time the Bank Appraiser showed up at our seller’s on April 19 to April 30, 2013 where we have a verbal approval for the Short Sale from the Bank!! That has to be a record specially since we were trying to get Short Sale...
by David Mortaz | May 1, 2013 | Home Seller Tips, Short Sale Expert Advice, Short Sales
To qualify for a Short Sale by a lender, you will need to document Financial Hardship to your lender. But before you start any Short Sale process, you should contact the US Department of Housing and Urban Development (HUD) which has Homeowner Assistance Program. In...
