Short Sale vs Foreclosure

A short sale is an alternative to prevent a foreclosure, with approval from their lender. It gives a homeowner the option of selling their home for less than the mortgage balance. In essence, the short sale lets you walk away from a mortgage you can’t afford to pay with no further obligation to the lender.Continue reading “Short Sale vs Foreclosure”

Buying a Bank-Owned Property

Bank-owned properties commonly referred to REOs or real-estate-owned properties are properties taken into a bank’s inventory after a homeowner fails to make mortgage payments and a foreclosure sale results. These homes are typically sold in as-is condition. And in most cases, banks list these properties for sale through local realtors. REO homes are attractive toContinue reading “Buying a Bank-Owned Property”

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