Today's Fresh Blogs...

• Short Sale and Foreclosure Effects on Credit

  Published: September 22, 2007, 8:57 pm

  Tags: Nlc Main, Nlc Loan Originating, Nlc Real Estate Buying, Nlc Real Estate Selling, Imploding Banks, Short Sale

  is better. Whereas a short sale involves offering the home for sale, generally listed through MLS. Potential home buyers will make appointments to view the home, some will make lowball offers, agents might hold open houses and, in general, a seller’s life will be disrupted, all in the hopes that a buyer will buy the home. Basics of

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• Short Sales in Real Estate - How to Handle Real Estate Short Sales

  Published: September 22, 2007, 8:51 pm

  Tags: Nlc Main, Nlc Loan Originating, Nlc Real Estate Buying, Nlc Real Estate Selling, Short Sale

  options is called a “short sale.” When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose. If you are considering buying a short sale, there

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• Short Sale

  Published: September 22, 2007, 8:46 pm

  Tags: Nlc Main, Nlc Loan Originating, Nlc Real Estate Buying, Nlc Real Estate Selling, Nlc Banks, Imploding Banks, Short Sale

  A short sale occurs when a property is sold and the lender agrees to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed. Also Known As: Shorted sale Alternate Spellings: Short-sale Examples: If the unpaid balance of a loan is, say,

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• Reasons to Have Your Attorney at the Closing Table

  Published: September 25, 2007, 9:16 am

  Tags: Nlc Loan Originating, Nlc Real Estate Buying, Nlc Real Estate Selling, Mortgage Fraud, Short Sale, Real Estate Investing, Lawyers Attorneys

  often include a real estate sales person or two, a lender, an appraiser, an inspector and a title insurance company, and possibly a builder and contractor. “With so many players who have competing interests, it’s critical to engage counsel before you proceed into what will most assuredly be a highly complicated transaction,”.

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• Homeowners "Too Broke to Sell"

  Published: October 5, 2007, 12:00 am

  Tags: Cancellations, Workouts, Short Sale

  From the Chicago Tribune: Here's a new one: Being too broke to sell A survey of mortgage brokers suggests that one in three consumers who recently signed purchase contracts canceled in August -- up from just 4 percent three years ago, according to the research firm that conducted the survey for Inside Mortgage Finance, a trade journal. The

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• Hedge Fund to Pay $8.2 Million In SEC Short-Sale Settlement

  Published: October 11, 2007, 12:00 am

  Tags: Hedge, Fund, Pay, 8 2, Million, Sec, Short Sale, Settlement, Thomas E Sandell, U S Securities Exchange Commission, Capital One Financial Corporation, Sandell Asset Management Corp, Bear Stearns Amp Co Inc, Christopher Cox, New Orleans, Scott W Friestad, New York

  Sandell Asset Management and its founder are to pay $8.2 million to settle claims that the hedge-fund firm improperly sold a New Orleans bank's shares short after Hurricane Katrina.

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• John Woodall Short Sale Expert Podcast Interview

  Published: October 23, 2007, 3:17 pm

  Tags: Podcasts, Consumer Mortgage Tips, How To Short Sale, John Woodall, Nonrecourse Loans, Short Sale Tips, Short Sales

  podcast series we speak with short sale expert John Woodall of Home Auction Advantage in San Diego. John is incredibly knowledgeable about the short sale process and shares with our listeners the ins and outs of the process for those considering short selling their home. In one of the most important interviews we’ve done to date John

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• Is a Short Sale Right for You?

  Published: December 7, 2007, 12:52 pm

  Tags: Consumer Mortgage Tips, Jim Woodall, Short Sale, Short Sales, Short Sell Your Home

  A lot of them inquire about short sales as a possibility to get out of their home and want to know how the short sale process works. Unfortunately there isn’t a lot of good information out there for people who are looking at short sales as an option for getting out of a bad mortgage situation. There are plenty of books about making money

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• Advocate For Fair Lending

  Published: December 31, 1969, 7:00 pm

  Tags: Negotiation, Consolidation, Consolidate, Mortgage, Loan, Lending, Lender, Servicer, Debt, Negotiate Advocate, Advocates, Fair, Default, Foreclosure, House, Home, Property, Nod, Nts, Notice Of Default, Notice Of Trustee Sale Help, Short Sale Attorney, Legal Law, Esq Disclosure

  default, notice of trustee sale help, short sale attorney, legal law, esq disclosure, disclosures, collections, collection Rank 5.0 Vote 1 Rating 9

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• Brokers Complain About Their Own Opinions

  Published: April 24, 2008, 8:46 am

  Tags: Workouts, Short Sale, Brokers

  to offload their homes in "short sales," making the housing crisis worse.In a short sale, a borrower dumps the home at below-market value and the bank forgives the rest of the debt. The borrower's credit rating is hurt but for less time than in a foreclosure. Such sales have been touted by banks as a way out for homeowners unable to pay their

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• The new exit strategy: A short sale

  Published: April 29, 2008, 2:26 pm

  Tags: For Sale By Owner Fsbo, Mortgage, Real Estate Buying, Real Estate Investing, Real Estate Property Tax, Real Estate Selling, Short Sale

  are now advocating a short sale. This is a case of a distinction with a difference: If your bank agrees to a short sale, you then hire an agent to find a buyer for the house, you sell the house for a loss, and with the bank's blessing, they agree to eat the loss (although they could still demand the homeowner make some kind of payment

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• Stuff of Memories: From Front Page (in 2005) to Short Sale

  Published: May 2, 2008, 5:36 pm

  Tags: House Prices, Short Sale

  is now listed on RedFin as a short sale for $559K (good luck!). (hat tip ID) Click on photo for larger image. Click here for PDF of entire front page. The caption read: SOLD: Sergio and Monica Anaya and their two children left their rental and bought this three-bedroom Costa Mesa home after signing two loans (including an interest-only mortgage)

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• Orange County, CA Prices: From Front Page to Short Sale

  Published: May 3, 2008, 6:11 pm

  Tags: House Prices, Short Sale

  From Front Page (in 2005) to Short Sale. That house was featured on the front page of the O.C. Register - as a median priced home - when the median crossed $600,000 back in 2005. The same house is now offered for sale as a short sale. There is no Case-Shiller index for Orange County alone (update: LA includes Orange County - hat tip sanity

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• The Housing Crunch Hits Home

  Published: June 18, 2008, 12:44 pm

  Tags: Housing Market, Foreclosure, Homes, Housing, Property, Real Estate, Refinance, Short Sale

  it when there was a for sale sign on their front lawn. They bought their house when prices were high. The sign was up for four months. And yesterday I decided to get back into selling real estate, so I looked up their property. Sure enough it was in default and on the market for about $150,000 less than they bought it for, subject to

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