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Navigating Short Sales: What to Do When the Sale Price Leaves You Short If you’re thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of … Continue reading
Tagged bank repo, bankruptcy, debt, default, distressed, distressed property, finance, for sale, foreclosure, home loan, loan modification, mortgage, mortgage default, mortgage forgiveness act, real estate, repo, reposession, short sale, st tammany
What is an FHA loan? The word ‘loan’ is a bit of a misnomer, since Federal Housing Administration (FHA) loans are not loans at all. What the FHA does is insure loans so that lenders can offer mortgage assistance to … Continue reading
Tagged bank repo, buyers, credit score, FHA, finance, for sale, home loan, loan, mortgage, pre-approval, pre-qualification, real estate
What’s the difference??? There are three types of home-sales that require you to be Pre-Approved. REO’s (home foreclosures) Short Sales (sale price is lower than the sellers mortgage payout) ‘Relos’ (homes being sold by a seller’s relocation company) Add to that, ordinary … Continue reading
Tagged bank repo, credit score, foreclosure, home loan, loan, mortgage, pre-approval, pre-qualification, real estate, repos, reposession, short sales
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Since Hurricane Katrina and the rash of repairs and new construction that followed, we have seen a higher than normal incidence of homes contaminated wth Chinese drywall. YES. . . contaminated!! As in poisonous!! These homes are not fit for … Continue reading
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The following is a reprint courtesy of HUD.Cov, US Dept of Housing and Urban Development The Section 203(k) loan program is HUD’s primary program for the rehabilitation and repair of single family properties. As such, it is an important tool … Continue reading