Short sales and Foreclosure Solutions

Short sale can be a win-win-win – for buyer, seller, and mortgage alike.. Nobody is saying a short sale is a perfect solution to a home seller who. Credit scoring firms take a dim view of a foreclosure, and will issue a credit.

The number of short sales and deeds-in-lieu of foreclosure for Q2 totaled approximately 14,500, down slightly from the 14,900 completed during Q1. The total amount of short sales and deeds-in-lieu.

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After all, when you short sell your home you’re not recovering enough to pay off its mortgage. Short sales are less costly for lenders than foreclosure, though. With sufficient documentation you might be able to convince your reverse mortgage lender to allow a short sale.

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John Bodien   Foreclosure Solution before turning to foreclosure alternatives." Non-retention solutions, including short sales and deeds-in-lieu of foreclosure, totaled 11,785 for Fannie Mae year-to-date through the end of June.

Sales of homes in default but not yet foreclosed on were down 20 percent to 88,750. Short sales of properties not in foreclosure, where the home is sold for less than the outstanding loan, also.