Tag Archives: Lake Elsinore Short Sales

Short Sales vs Foreclosures on a Credit Report

It may surprise you to know that a short sale will typically appear no different on a credit report than a foreclosure. For someone looking to qualify for a home loan, this can be a major issue. It looks like … Continue reading

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HOPE NOW: 5.9M Completed Mods Since 2007; Short Sales Increase

Short sales continued to increase in October, while foreclosure starts fell, according to data from HOPE NOW, an industry alliance of mortgage servicers, investors, mortgage insurers, and nonprofit counselors. Completed short sales reached 38,518 in October, representing a 13 percent … Continue reading

Posted in HAFA Short Sales, HAFA Updates, Loan Modifications, Mortgage Foregiveness Act, Short Sales | Tagged , , , , , , , , , , , , | Leave a comment

Short sales and Bankruptcy from Bank of America

Bank of America can review a short sale offer while the loan is in an active bankruptcy. To complete a short sale and issue the approval letter, the bankruptcy documents must be filed and approved by the court. Any final … Continue reading

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