The short answer is yes, but there are some things you should know about mortgage insurance first. Sometimes mortgage insurance can be a real pain to deal with in a short sale. Since the mortgage insurance company is insuring the mortgage lender against losses in the event of default situation by the homeowner, when a [...]
Tag Archives | foreclosure stress
Facing Foreclosure – The 5 Stages of Grief
It never fails…. The foreclosure auction is about 7 days away and the phone starts ringing off the hook. Homeowners calling, saying they haven’t made a payment in many months and now their house is going to the auction and they need help. …And Realtors calling, saying that they’ve had a listing for the last [...]
Stop Foreclosure in Texas – Not An Easy Task
Texas is what’s called a 21-day state, or non-judicial foreclosure state….there are only 6 of them in the entire U.S. This simply means that when a mortgage company decides they are going to foreclose, they don’t have to use the judicial court system. The only requirement the lender has to meet is posting the notice [...]
In a Short Sale, What If I Have More Than One Mortgage?
The Short Sale Monkey’s Most Commonly Asked Questions – Video Series Question #5 – In a Short Sale, What If I Have More Than One Mortgage? Quite often, homeowners faced with foreclosure think there is no hope, it’s a “lost cause”, it’s just too complicated, especially if they have more than one mortgage. They think [...]
How Long Do Short Sales Take?
The Short Sale Monkey’s Most Commonly Asked Questions – Video Series Question #3 – How Long Do Short Sales Take? The answer to this question can be different from property to property, depending on the complexities involved. Watch the video as I explain… What’s the “longest” short sale that you’ve been involved in, or heard [...]
How Late Is Too Late? I’m Facing Foreclosure and Need a Short Sale!
Late one Thursday night, the phone rang. I was just finishing up a long day of negotiating with lenders from around the country, trying to get them to agree to discounting the debts of dozens of homeowners rather than foreclosing, i.e. accept a short sale. I guess it was about 7:30pm or so. The woman [...]
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