Sentences with phrase «losses than foreclosures»

Banks are ramping up short sales thanks to government incentives and the realization that short sales result in lower losses than foreclosures.

Not exact matches

Stung by foreclosure losses, the companies seemed content to sit on the sidelines, raising their requirements to the point where many loan agents I spoke to wouldn't even consider putting a loan through Fannie or Freddie with less than 20 % equity.

Besides being cheaper, easier and faster than foreclosure, a short sale turns a huge potential loss into a smaller one.

Lenders generally take smaller losses on short sales than foreclosures.

Rewriting FHA requirements for future mortgage loans insured by FHA could be an option, but FHA is currently between a rock and a hard place with its current commitment to reimburse lenders for foreclosure losses and the need for addressing problems caused by homes worth less than the mortgage loans financing them.

The thinking is that borrowers with little home equity are only a job loss, illness or other unpredictable financial disaster away from not making a house payment and will abandon their home to foreclosure if they owe more than the home is worth.

Certainly in hard - hit foreclosure centers the losses will be substantially greater than $ 20,000 for many borrowers.

That principal reductions are more effective than modifications without principal reductions seems to me to be patently obvious if you look at the root causes of delinquency and foreclosure: loss of income (due to unemployment) and negative home equity.

Do you qualify for the Back to Work Program in Kentucky for home buyers with previous short sale or foreclosure less than 2 years?Back to Work Program, bad credit, Bankruptcy, FHA Back to work, foreclosure, job loss, Short Sales

With so many people facing foreclosures due to loss of employment and skyrocketing interest rates, it is more important than ever to make sure you are properly prepared.

More than 65 percent of respondents also anticipate steps — such as short sales or deed - in - lieu of foreclosures — in which borrowers lose possession of the house to be at least somewhat significant loss - mitigation steps at their banks.

Also, so long as the entire house remained collateral for the loan (i.e., both the 95 % - owner's part and the 5 % - owner's part), a loss of the ability to sue the 5 % owner for a deficiency if the house ended up going for less than the amount of the loan in a foreclosure sale (which is what the loan guarantee would allow the bank to do) would be more or less irrelevant once a lot of the loan was paid down.

On average, CMBS holders incur higher losses on loans from retail foreclosures than from other sectors, according to Trepp.

A Florida short sale allows both you and the lender to be ultimately in a better position because the lender, too, will prefer to recoup only part of the mortgage amount than to absorb a total loss from a foreclosure.

the amount you owe on your first mortgage for your property is equal to or less than: $ 729,750 for 1 unit $ 934,200 for 2 units $ 1,129,250 for 3 units $ 1,403,400 for 4 units you owe more on your home than it's worth your current mortgage was taken out on or before January 1, 2009 you are experiencing a hardship (such as a job loss, divorce or medical emergency) and are unable to afford your current home loan (For loans not owned by Fannie Mae or Freddie Mac) All servicers that have signed agreements with the U.S. Department of the Treasury (Treasury) to participate in the Home Affordable Modification Program (HAMP) must consider eligible borrowers who do not qualify for HAMP for other foreclosure prevention options including the Home Affordable Foreclosure Alternatives program which includes short sale and deed - in - lieu.

At least 28 of the properties went into foreclosure, representing a loss to lenders of more than $ 5.5 million, according to court records.