Are you confused about whether a short sale or foreclosure is better? If so, you’re not alone. As people across the country find themselves unable to keep up with their mortgage payments, many are looking into short sale options. Bank foreclosures and the housing market is the topic on the mind of most now. People [...]

By PETER S. GOODMANNew York TimesThis week, the Obama administration summoned mortgage company executives to Washington to demand they move faster to lower payments for homeowners sliding toward foreclosure. Treasury officials called on the companies to hire and train more people quickly to field applications for relief.
But industry insiders and legal experts say the limited [...]

You’ve probably heard about President Barack Obama’s plan to rescue the housing market. He believes that restructuring distressed mortgages will help to keep struggling home owners in their homes. He also believes that this will help slow or stop the decline in housing prices. To this point $75 billion has been allocated toward modifying distressed [...]

Short SaleSome agents say the good news for short sale sellers is the wait is much shorter before buying another home, and Fannie Mae guidelines in 2008 adopted new procedures.Can a seller buy again in less than two years? Not really, says Coy, “It’s an utter myth that a consumer ‘can buy again in about [...]

The 5 Mistakes Are:

Stop Paying Without a Plan — depending on the bank you can actually start a loan workout / modification or a short sale without stopping your payments! Other times you may need to stop paying to get their attention (or because you simply don’t have money!) Angel will never tell you to [...]