Short Sale Processing Q & A
Posted July 15th, 2008
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Posted July 15th, 2008
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Short Payoff Settlement Letter Question
Posted June 24th, 2008
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Thanks for considering me for your short sales needs.
What you are asking for is information about the settlement with the creditors. That comes from the creditor in the form of settlement letter from each creditor. This document is also know as the short sale letter. You need to negotiate that with the creditors. The settlement letter will state the terms of the short pay off. There are two types of short payoff. One is the true short sale, in which the owner does no longer owe. The other one is the release of lien, in which the owner still owes any unpaid balances. There are tax implications associated with this as well. All that is in the Short Sales A-Z course. It would take a long time to explain by email or phone. You may want to review the articles I have in my web site www.BestShortSales.com. Hopefully this helps.
Here is a coupon code for a $100 discount for Short Sales A-Z Online or Short Sale Biz Master Suite.
Double Escrow Alternative Funding
Posted June 21st, 2008
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Instantly Become a Lease Option Genius
Posted June 18th, 2008
Real Estate Fact
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Short Sales A-Z Online Video Course Content
Posted June 1st, 2008
Chapter 1
Introduction
In this chapter expert Oscar Morante explains what is needed succeed in short sales. An specific mindset, body of knowedge and business premise are needed to succeed in this business.
Objective:
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Oregonian Article (by Gosia Wozniacka)
Posted June 1st, 2008
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What is a Real Estate Short Sale?
Posted May 30th, 2008
A real estate short sale is the sale of a property for less than what is owed on it. The lenders voluntarily accept less than full payment and forgive the unpaid balance.This happens when a property is worth less than what is owed, the owner is insolvent, and can’t make up the difference. In the sale of the property, a lender is paid off with a dollar value short of what it is owed, thus the term short sale. This article briefly explains why this happens and why they are so common.
The root of this issue is in collateralization. The vast majority of properties are purchased with the aid of financing. In order to pay for a property, a homeowner places a small down payment. Since the down payment is not sufficient to purchase the property, a loan is used to pay the remainder of the acquisition value. In other words, the homeowner finances part of the purchase value of the property with a loan from a lender. To guarantee payment, the homeowner pledges the property as collateral. This is called collateralization. This is an agreement between the owner and the lender, such that in case of default, the lender has the right to dispose of the property in order to get paid. In the U.S., properties are collateralized by trust deed, mortgage, and security deed. The term “mortgage” is generic.
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Ten Mistakes to Avoid When Doing Short Sales
Posted May 30th, 2008
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Ten Tips About Short Sales
Posted May 30th, 2008
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