Sentences with phrase «result than a foreclosure»
Although going through a short sale is a difficult and unfortunate situation to experience, it is a far more appealing result than a foreclosure.
https://www.vahomeloancenters.org/ Not exact matches
In fact, few things can be more damaging to growth than the kind of financial crisis that Mulvaney conveniently looks past — the one that started precisely in 2007, sent unemployment to 10 % nationally and much higher in many places, and resulted in bailouts for banks but foreclosures for working Americans.
This is riskier however because it assumes they can get the foreclosure for cheap, fix it up inexpensively, result in appraised value of more than their total investment thus far and finally be able to find renters willing to pay the monthly mortgage.
«This slowdown continues to be largely the result of massive delays in processing foreclosures, rather than the result of a housing recovery that is lifting people out of foreclosure,» notes RealtyTrac CEO James Saccacio in a statement.
Falling prices also resulted in homes worth less than the mortgage loan, providing the lender with a financial incentive to enter foreclosure.
Banks are ramping up short sales thanks to government incentives and the realization that short sales result in lower losses than foreclosures.
• 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.
As a result of reduced foreclosure activity, inventory continued a downward trend for the 20thstraight month, 22.4 % lower than the housing inventory in February 2011.
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.