Short Sale vs. Foreclosure
Short sales are much different from foreclosures in both the result to the homeowner and in the process itself. In a short sale, the lender agrees to the short sale process, with the benefits to the homeowner being reduced impact to his credit score, and the possibility of waiver of any payoff shortfall. A foreclosure […]
A Buyer’s Market, Short Sales and A “Great Deal”
A buyer entering the residential real estate market looking to steal a great deal could be surprised to find that a short sale may not be their best avenue for success. In a short sale the mortgage lender is agreeing to allow the homeowner to sell the property at a price that is less than […]
Benefits to the Lender In Accepting A Short Sale
The realities in the current housing market dictate that there are substantial financial benefits to the lender in agreeing to a short sale with the homeowner. Primary among these direct benefits is the possibility of quickly eliminating further expenses to the lender associated with this distressed property while concurrently providing the lender with the highest […]
Satisfaction of Mortgage Debt Through A Short Sale
One of the first issues that a homeowner must consider when evaluating the benefit of a short sale is whether or not the lender will accept the sale proceeds as full satisfaction of the mortgage debt. In other words, will the lender accept less than what it is owed or will the lender require that […]
Have Patience With A Short Sale
The greatest drawback for a buyer when making a purchase through a bank short sale process is the amount of time that can pass between the offer and contract with the homeowner and the final approval of the sale by the mortgage lender(s). The reason for the long delay is that the lender must give […]
The Short Sale Process In Brief
The short sale process generally begins when the homeowner approaches his lender with concerns about his ability to continue making his mortgage payments. At this point the homeowner may or may not be current on his mortgage payments, but the homeowner has some reason to believe that falling behind is certainly a real possibility. Typically […]
What is a Short Sale
Some Basics About Short Sales A “short sale” occurs when a homeowner must move out of their property and finds that the market value of their home is less than the amount of money he (or she) owes on their mortgage. You may have heard this referred to as being “underwater”. Simply put, the proceeds […]
Howard County Home Buying | Seven Steps for Success
What The Professionals at Masters Realty Do To Support The Best Interests of Our Buyers The Purchase Process The fun begins where it should begin, with a discussion of the buying process. Our agents have guided many buyers through the home buying process, from initial consultation with our clients to the excitement of the day […]
Selling Your Home In Howard County
The Selling Process Our agents have successfully guided hundreds of area sellers through the home selling process, from the initial consultation with our clients to the excitement of the day of actual transfer of title. We are highly experienced in the steps necessary to market and sell a home, and our understanding of real estate […]