Sentences with phrase «than a foreclosure because»

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.

Not exact matches

At 10 a.m., a new report will show black and Latino homeowners in the outer NYC boroughs remain in the grips of the foreclosure crisis because the value of their homes is less than the outstanding balance on their mortgages; Council members will call on the city to use eminent domain to seize «toxic» mortgage and modify them, City Hall steps, Manhattan.

I recently wrote about how more than 650,000 home mortgages had been modified this year through October because of the government's foreclosure prevention plan.

-LSB-...] recently wrote about how more than 650,000 home mortgages had been modified this year through October because of the government's foreclosure -LSB-...]

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.

Lenders impose these because even if they comply with FHA guidelines, if they have a higher than average foreclosure experience for their area, they can lose their approval.

Power of sale foreclosure can occur much more quickly than judicial foreclosure because the trustee vested with the power of sale does not need court oversight to sell the property.

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.

Foreclosures can be a great investment opportunity because distressed properties often go for significantly less than comparable market rates.

So long as residential properties sell for less than their mortgages there is downward pressure on prices, because negative events lead to foreclosures, not sales.

Without taking a position on his appointment, we want to clarify false impressions about reverse mortgage foreclosures because they are unfair to Mnuchin, the industry and the reputation of this loan product that more than 1 million homeowners have used to age in place.

While the press reports that foreclosures in San Diego are rising because of ARM adjustments, we know that the three D's are far more severe to a famiiy's financial well - being than a higher mortgage payment.

Lenders will frequently accept this because it is a less expensive and time consuming process for him than a full foreclosure action.

It should came as no surprise that lenders do not like this situation because the promise to pay contained in the note is gone and the lender has lost the ability to collect a deficiency if the house is sold at a foreclosure auction for less than the amount of the loan.

Government initiatives to stem the country's mounting foreclosures are hampered because banks and other lenders in many cases have more financial incentive to let borrowers lose their homes than to work out settlements, some economists have concluded.

Whether they are forced to surrender their dog due to a change in living circumstances such as a lost job or foreclosure, or because a member of the family finds out they are allergic, or even if it is discovered that the dog is not a good match for their lifestyle, many dog owners would rather give up their dog to a good rescue organization than to a shelter where the dog may be euthanized.

Because the lender began applying the mortgage payments to these fees rather than to principal and interest, the lender declared the loan in default and commenced a foreclosure proceeding.

In a divorce, sometimes a house goes into foreclosure during a divorce because the spouses can not pay the mortgage, and it ends up being sold at foreclosure for less than the amount the spouses owe.

7) Lenders would much rather do short sales than foreclosures, because the lender frees up his non-producing money.

Many of them chose us because they liked that we market foreclosures in more innovative ways than other brokerages.

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 property is «underwater» because more money is owed on the home than its fair market value, the sales price, or the foreclosure sale amount.)

Typically short - sale homes are in better condition than foreclosed properties because the parties have found a solution before a legal foreclosure proceeding begins.

In addition, Florida has a large backlog of foreclosures because the foreclosure process takes longer in Florida than it does in most other states.

However, these may be more beneficial in the long run for the borrower than an official foreclosure action because it has less of a long - term impact on their credit history (the bank may also waive any deficiency against the borrower).

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.

«This is because renter households are growing at a much faster rate than owner households, reflecting growing confidence of those who were most likely impacted by the foreclosure crisis.»

Because of recent home price increases, properties are being sold at foreclosure for more than the judgment.