It’s been three months already, but Freddie Mac’s new Standard Short Sale program is starting to take shape and gain a foothold. The GSE is working tirelessly to advertise the program to the public in the hope of growing it, not to mention shed light on the variety of options for borrowers. Adds Tracy Mooney, […]

Leave a Comment     Category: Foreclosures and Short Sales

There has been no shortage of foreclosures on the market over the past several years, so it’s no surprise that unscrupulous individuals are finding ways to intervene in these transactions and ultimately take advantage of homeowners. As such, the Federal Government recently released a list of tips for homeowners to help them avoid being taken advantage of by […]

Leave a Comment     Category: Foreclosures and Short Sales

In a commercial property foreclosure, the lender will usually ask the judge to assign a Receiver to take “control” of the property. Receivers are normally nominated by the lender; however, they are considered agents or officers of the court and are a neutral third party. The Receiver (typically individuals, companies, or attorneys) will “protect, preserve […]

Leave a Comment     Category: Escrow, Foreclosures and Short Sales, Important Information

Several new laws affecting the real estate industry became effective this year. In a previous post, we discussed SB 931: Short Sale Deficiency Protection for Sellers, in which lenders who have agreed to a short sale will not have the ability to obtain a deficiency judgment against the seller after the short sale is completed […]

Comments (2)     Category: Escrow, Foreclosures and Short Sales

Whether you are a REALTOR considering getting into the niche business of dealing with REO’s, a buyer looking to find a deal on a home by seeking a foreclosed property or a seller looking for information on what happens when a foreclosure proceeding is started, you need to know and understand the foreclosure process. By […]

Leave a Comment     Category: Escrow, Foreclosures and Short Sales, REO

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