Short Sale/Foreclosure

Experts Optimistic on Housing Recovery After Foreclosures Reach Five-year Low

Many people have failed to notice that the real estate market is starting to show surprising signs of strength. The latest piece of good news has come from a report by RealtyTrac, an internet company that specializes in the foreclosure market. According to their most recent numbers, year-over-year foreclosure filings fell by 16% in September,… READ MORE

Treasury Releases Guidance for Making Home Affordable.

To make it more attractive for the services to accept a sale on defaulted properties for less than the outstanding mortgage balance, the US  Treasury is offering incentive payments of $1,000 per completed short sale. Services will also receive $1,000 for each deed-in-lieu of foreclosure.  Read More…

How long do bankruptcies and foreclosures stay on a credit report?

Bankruptcies and foreclosures can remain on a credit report for seven to 10 years. Some lenders will consider a borrower earlier if they have reestablished good credit. The circumstances surrounding the bankruptcy can also influence a lender’s decision. For example, if you went through a bankruptcy because your employer had financial difficulties, a lender may… READ MORE