Sentences with phrase «seller than a foreclosure»

A short sale is a far more desirable outcome for a seller than a foreclosure because it will appear on a credit report as a settlement.

A short sale is a far more appealing outcome for an underwater seller than a foreclosure.

Not exact matches

Today, many desperate sellers would be more than willing to accept a lease option if it gets their property sold — it beats being forced into foreclosure.

Still, many say that a foreclosure will hit your credit harder than a short sale with late payments - each seller situation varies.

Depending on how the transaction is reported, a short sale could have a smaller negative impact on the seller's credit score than having a full foreclosure, according to Freddie Mac.

While a short sale, which is where the lender settles for less than the amount due on the mortgage, is considered a better closure for the seller (vs. foreclosure or bankruptcy), it's still a red flag to new lenders because of how it shows up on your credit report.

Sellers who opt for a short sale instead of foreclosure can buy another home sooner than two years.

A short sale is when a property is sold for less than the remaining balance on the mortgage, so the seller, who is no longer able to make mortgage payments, can avoid foreclosure.

Sellers should know that although a short sale looks better on your credit report than a foreclosure, your credit score will still be affected.

Nancy Allen, president - elect of the Pen - Mar Regional Association of Realtors, says that inventory has risen in Hagerstown, with foreclosures still coming to market and competing with traditional home sellers for limited buyers (more than half of the homes in Hagerstown are rental units).

Even distressed property sellers are benefitting from this hot seller's market, with a record - high share of homes at foreclosure auction being purchased by third - party buyers, rather than reverting back to the foreclosing bank.»

The IRS will not count the amount forgiven by the mortgage holder as income to the seller, thus giving distressed borrowers incentive to sell short rather than default; (2) restored the tax deduction for mortgage insurance premiums that expired at the end of 2011; (3) the mortgage interest deduction untouched; and (4) tax relief for mortgage debt forgiveness was extended another year; providing homeowners tax relief on loan modifications, short sales and foreclosures.

With less than 6 month's supply, we are technically no longer in a «buyer's market» and certainly in the under $ 100k condo bracket, we've been in a strong seller's market for nearly a year now, particularly in areas like Orlando's MetroWest where condo conversions are increasingly tough units to acquire with a dozen contracts for every foreclosure.

In today's market, things can often times become more complicated than in the past because of fickle buyers, short sales, foreclosures and wounded sellers who have seen their retirement accounts slide away right alongside the equity in their homes.

# 3, those are the rules, you probably have a good method to get the seller to move, about the only benefit is the difference between having a SS rather than a foreclosure.

Ryan mentions that Facebook founder Mark Zuckerberg may have purchased a home in California; Ryan reviews the economic events of the prior week; Ryan notes that interest rate are still heading down; Ryan notes that the DC real estate market is competitive on the buy and rent sides and that would be renters in the DC area are turning into would be buyers; Louis notes that the DC housing dynamic is different from the rest of the country where housing prices are down and there is plenty of inventory; Louis notes that if it is cheaper to buy than rent that it makes sense to get a long term low interest rate loan; Louis talks about the benefits of visiting HomeGain.com; Louis discusses the HomeGain FSBO vs. Realtor survey and the advantages of hiring a REALTOR; Louis and Ryan discuss the HomeGain home improvement survey and recount the types of home improvements that provide the best return on investment; Ryan and Louis talk about pricing strategies for selling a home; Louis and Ryan discuss the differences between pricing a short sale and pricing a non short sale home; Louis notes pricing a home too high may keep the home on the market a long time and that the more days a home is on the market makes a home look like damaged good; Ryan describes short sales as foreclosure avoidance and discusses the impact of each on FICO scores; Ryan talks about the options that people with underwater mortgages have; Louis mentions that 72 % of home buyers and sellers pick the first real estate agent they meet and points out the value in comparing agents first using HomeGain's Find a REALTOR program; Louis can Ryan discuss the level of shadow inventory the impact on sellers as more inventory gets released;