Sentences with phrase «result in a foreclosure sale»

• Less than 2 percent of the loans secured by owner - occupied homes and serviced by Wells Fargo resulted in a foreclosure sale in the last 12 months.

For instance, if a property is given a value that is higher than its true value and consequently over financed, a subsequent foreclosure on the mortgage could result in a foreclosure sale price substantially less than the mortgage balance.

Not exact matches

Dear Alonzo, As a result of the Great Recession of 2007 - 09, many homeowners lost their homes to foreclosure or one of the alternatives to foreclosure, such as deed in lieu of foreclosure, short sale, loan modification or other tools for getting out from under a no - longer - affordable mortgage.

While preferable to foreclosure, short sales still leave the borrower without a home or equity, and may result in a higher tax bill.

Borrowers that may be otherwise ineligible for an FHA - insured mortgage due to waiting period for bankruptcies, foreclosures, deeds - in - lieu, and short sales... may be eligible for an FHA - insured mortgage if the borrower (A) can document that the delinquencies were the result of an Economic Event as defined in this letter, (B) has completed satisfactory Housing Counseling, as described in this letter, and (C) meets all other HUD requirements.

The bank's decision to allow a Short Sale is typically in lieu of the foreclosure process which can result in heft fees for the bank.

They can choose to refinance their homes but this will result in a tax bill on the forgiven debt and their only option is a short sale or a full foreclosure.

As a result of the federal Protecting Tenants in Foreclosure Act, states across the country are passing similar legislation that makes home lenders obligated to maintain home foreclosures from the time of the judgment of foreclosure through the closing of the sale.

Accepting a low ball short sale offer certainly wastes a lot of time for the seller and could result in them losing the home to foreclosure depending on where they are in the process.

I am an Escrow Officer and am familiar with short sales, foreclosures, etc. but what no one could confirm for me... and you did, was the difference in the impact of short sale vs. deed in lieu of and the fact that HR 3648 also applies to debt forgiven as a result of short sale as well as foreclosure.....

It's important to note that foreclosure filings recorded by RealtyTrac include default notices, auction sales notices and bank repossessions, and that not all result in foreclosure.

The foreclosure process will result in a sale of the property.

In the case discussed in the article, the District Court Appellate Division had ruled that a foreclosure and subsequent sale were invalid as a result of the foreclosing bank sending the borrowers a notice of default and acceleration of the debt before the bank had been assigned the mortgagIn the case discussed in the article, the District Court Appellate Division had ruled that a foreclosure and subsequent sale were invalid as a result of the foreclosing bank sending the borrowers a notice of default and acceleration of the debt before the bank had been assigned the mortgagin the article, the District Court Appellate Division had ruled that a foreclosure and subsequent sale were invalid as a result of the foreclosing bank sending the borrowers a notice of default and acceleration of the debt before the bank had been assigned the mortgage.

Create Resume Payton Hunter 100 Main Street, Cityplace, CA, 91019 H: [phone] C: [phone] [email protected] Professional Summary Results oriented Mortgage Professional with extensive background in real estate lending, sales, foreclosures and related legal aspects.

Ileana Rodriguez, CRS, e-pro, TRC, CDPE (Miami, FL) 1/2008 — 2/2009 Real Estate Executive Assistant • Perform administrative functions including phones, data entry, and scheduling • Prepare comparative market analyses regarding commercial and residential real estate • Create and place listings on MLS, craigslist.org, trulia.com, and Re / Max's sales system • Author brochures, flyers, and mailers of listings for use in sales initiatives • Provide exceptional customer service resulting in client satisfaction and referrals • Complete BPOs (Broker Price Opinions) for major lenders • Assist with REOs, short sales, and foreclosures

Through FHA's «Back To Work — Extenuating Circumstances Program,» borrowers who have gone through bankruptcy, foreclosure, deed - in - lieu, or short sale, may be eligible for an FHA - backed mortgage sooner if they can prove their financial hardship was the result of an economic event, such as job loss or a significant decrease in income.

A little reality check on a default in a mortgage: depending on your province, a default in a mortgage can result in a power of sale, a foreclosure or a judicial sale.

Watch this video about the program that allows borrowers who gone through bankruptcy, foreclosure, deed - in - lieu, or short sale, to apply for an FHA - backed mortgage sooner if they can prove their financial hardship was the result of an economic event.

The overall trend of fewer distressed properties (short sale or foreclosure) on the market resulted in vacation buyers and investors purchasing less of them in 2015.

«In today's world, you should also ask if any of these sales are as a result of foreclosures.»

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

Consider the following: If you are in danger of foreclosure now and do a short sale, deed in lieu of foreclosure or let the bank foreclose on your home, the loss and resulting 1099 from your lender in most cases will not result in a taxable event for you.

A foreclosure is a forced sale, and may also result in your taxable gain being recognized.

«Changing conditions throughout 2010 in the sunshine states resulting from foreclosures, the tax credit, interest rates, and other factors created more interest in real estate compared to other states that we hope leads to increased activity and sales in 2011.»

Foreclosure transactions differ from regular property sales in many ways, and one of the significant differences is this: unlike a regular property sale, the first accepted offer in a foreclosure doesn't necessarily result in that buyer ultimately owning the property.