Survey: Short Sale Process Still Falls Short

August 15, 2011 | Comments Off on Survey: Short Sale Process Still Falls Short

Daily Real Estate News | Thursday, August 04, 2011 Seventy-seven percent of real estate professionals report that closing short sale transactions is “difficult” or “extremely difficult” — up from 70 percent in December 2010, according to a survey conducted in June by the California Association of REALTORS®. The survey gauged real estate professionals’ experience and […]

A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt. Why are […]

By Marcia Passos Duffy of Homeowners whose mortage balance exceeds the current property value know the futility of trying to refinance. Refinancing options for so-called “underwater” mortgages are limited because most lenders require some equity in the property — ideally about 20 percent. However, borrowers should not give up hope. Options do exist, especially via the government’s […]

    According to the officials at Columbia University, the recession ended September 2009. It will have lasted for 21 months, making it the longest recession in modern history. Because the recession coincided with a  financial crisis and a real estate deflation, it felt like the worst thing since the Great Depression. It’s likely that […]