Foreclosures and Short Sales are a reality in Real Estate. Here is information for you to better understand the complexities of sales involving a Foreclosure or a Short Sale.
There is much interest in purchasing homes that are Bank Owned, are short sales or are foreclosures. Many times consumers think that they get the best deals purchasing homes in this status. There are no guarantees and yes some people get some great deals, while others have many unexpected expenses. When you buy a foreclosed [Continue]
There is much interest in purchasing homes that are Bank Owned, are short sales or are foreclosures. Many times consumers think that they get the best deals purchasing homes in this status. There are no guarantees and yes some people get some great deals, while others have many unexpected expenses. Read Also: WNY Foreclosure Properties [Continue]
Looking to Purchase a Foreclosure? Every WNY foreclosure is a tragedy and an opportunity. A Western New York property enters foreclosure when the original mortgage holder can no longer pay or settle a debt to the lending institution. The property then enters foreclosure, with the lender taking full possession of the WNY property. In most [Continue]
Here is a selection of Properties that are listed on the MLS as Foreclosure/REO/Short Sale or Bank Owned properties. August 15, 2010 193 Saint Lawrence Ave Buffalo, 14216 NY $ 46,900 Built in 1948 576 sq. feet 2 Bedrooms, 1 Full Bath(s) , 0 Half Bath(s) MLS Number: B369424 (IDX) 304 Riverside Ave Buffalo, 14207 [Continue]
In today’s Real Estate market you may here the term “Short Sale” and you are probably wondering to yourself and afraid to ask “What is a Short Sale?“. Well basically a Short Sale in Real Estate is when a sale of a house in which the proceeds fall short of what the owner still owes [Continue]
We often talk about the Real Estate market and the inventory is the homes that are for sale. But let’s talk about the inventory that really isn’t inventory; yet. What sits waiting and what exactly are they waiting for? Out showing properties to a client of mine this evening, we discussed a problem that many [Continue]
Today I want to talk about a small but important piece of the short sale – the hardship letter. This is the one time you really need to look at the situation through bank’s eyes. They have taken all the risk and ultimately deciding if the transaction is going to go through. The hardship letter [Continue]
Is your house worth less then what you owe on your mortgage? If so, the term that defines this is called an underwater mortgage or some also call it upside down and you are not alone, nearly 1 in 6 homeowners find themselves in this position today. Underwater mortgages are mortgage arrangements that effectively leave the owner with more debt on [Continue]
Are you looking for a Foreclosure property in Lockport? Here is what is currently available in the Lockport area according to the MLS as Foreclosures: 6415 Sherman Dr Lockport Town, 14094 NY $ 61,900 Built in 1970 1144 sq. feet 3 Bedrooms, 1 Full Bath(s) , 0 Half Bath(s) MLS Number: B363953 (IDX) 115 Washington [Continue]
Are you in trouble? Do you need information regarding foreclosure? Recently Freddie Mac video about Mortgage Fraud. They also has a webpage for Avoiding Mortgage Fraud. [Continue]
Deed in lieu of Foreclsoure is defined by Wikipedia as: "A Deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e., the borrower) conveys all interest in a real property to the mortgagee (i.e., the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. [Continue]
Often there are people in Western New York that would like to purchase a second home in Florida. Although the Miami/Fort Lauderdale areas are very popular and Naples Marco Island areas are highly desired Orlando continues to be an area of interest for may WNY’s. The location of Orlando is Central to all things in [Continue]
Two years after a short sale, a seller can buy a new home! Fannie Mae recently announced that sellers, who elect to sell on a short sale over letting the property go through to final foreclosure, are eligible to buy a new home after two years. Although there are no exceptions due to extenuating circumstances, this new ruling means there is [Continue]
The National Association of REALTORS® has created a useful document for homeowners in “How to Avoid Foreclosure and Keep Your House” if you are in trouble it is an excellent place to start. Some of the resources cited in this document include: For immediate advice, call 888-995-HOPE To speak to a counselor on how to [Continue]
The property information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
