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August 28, 2009
Home Mortgage
Obtaining a home mortgage loan today is considerably more difficult than a few years ago. Unfortunately, too many people were approved for mortgage loans that weren't financially qualified to repay the debt. The end result is the massive amount of foreclosures sitting abandoned all across the country.
Today, borrowers seeking a home mortgage through traditional lenders must have nearly perfect credit, along with a strong history of paying debts on time and a solid work history. While this can be frustrating for people with less than perfect credit, alternative options exist for buying a home.
Real Estate Investing article on "Home Mortgage"
August 25, 2009
Mortgage Refinancing
Mortgage refinancing is an option available to borrower's who want to initiate a new loan against their home. Homeowner's can refinance mortgages to obtain a better rate of interest, alter terms of the loan, enter into a new type of loan, or obtain cash to pay off outstanding debts or make home improvements.
Mortgage refinancing requires borrowers to submit a new loan application either through their current lender or a different mortgage lender. Before applying for a new home mortgage it is important to review the terms of your current mortgage note. Nearly all home loans include prepayment penalties for closing the loan early.
Real Estate Investing article on "Mortgage Refinancing"
August 14, 2009
Bank Owned
Bank owned refers to real estate that has been repossessed by the bank because the borrower was unable to maintain their mortgage payments. Bank owned real estate is oftentimes referred to as real estate owned or REO properties.
Bank owned real estate is foreclosure property which did not sell at auction. Once property has been foreclosed it is first place for sale through public auction. If no acceptable bids are placed, the property is returned to the bank. At this point, it becomes the mortgage lender's responsibility to maintain the property until sold.
Real Estate Investing article on "Bank Owned"
August 02, 2009
Short Sales vs Foreclosure
Short sales vs. foreclosure is a hot topic in the world of real estate. These two options might be the only thing left for borrowers struggling to make ends meet. Both can resolve financial challenges or create an entirely new set of problems.
The primary difference between short sales vs foreclosure is with short sales homeowners have the opportunity to sell their property for less than is owed on the mortgage note. Borrowers must meet certain criteria to obtain short sale approval from their lender.
Real Estate Investing article on "Short Sales vs Foreclosure"
July 30, 2009
What is a Short Sale
Many homeowners are asking "what is a short sale?" Rumors are flying around the Internet suggesting everyone who is struggling to make ends meet can sell their home for less than they owe and walk away from their property. While there is a portion of truth to this, borrowers must meet certain criteria before being allowed to short sell their home.
Today, I would like to provide an overview of what is a short sale to clear up any confusion you may have. 'Short sale' is a real estate industry term used when a lender accepts a discounted payoff on a mortgage loan. Short sales offer homeowner's who have defaulted on their mortgage an opportunity to sell the home for a lesser amount than is owed and avoid foreclosure.
Real Estate Investing article on "What is a Short Sale"
July 15, 2009
Investors
Investors refer to an individual or group of people who invest money into specific projects. All types of investment opportunities exist. People invest in stocks, bonds, small businesses, corporations, and real estate. Each type of investment comes with its own set of pros and cons. Some can be quite profitable while others take a large chunk out of your savings account.
Investors need to become educated about the market, product, business or individuals they are investing in. It would be rather foolish to invest your life savings into a project or person you know nothing about. Although you might possess beginner's luck and strike it rich your first time out, investing is a game that requires research, planning and a watchful eye over where your investment money is being spent.
Real Estate Investing article on "Investors"
June 23, 2009
How to Short Sale
How to short sale real estate is a hot topic. With millions of homeowners facing foreclosure, short selling property has emerged as the latest and greatest real estate technique. The truth is, short sales have existed for decades. It wasn't until the collapse of financial institutions that this option became public knowledge.
A single article isn't sufficient for learning how to short sale property. The process is complex and requires mountains of paperwork and hours of negotiation. Short sales involve convincing your lender to allow you to sell your house for less than you owe on your mortgage note. Since banks are in business to make money, borrowers must be knowledgeable about the process if they want to obtain short sale approval.
Real Estate Investing article on "How to Short Sale"
June 17, 2009
Short Sale Home
A short sale home is a house that is being sold for less than is owed on the mortgage note. Borrowers facing foreclosure can sometimes engage in short sales with lender approval. The short sale process is pretty complex and requires a tremendous amount of paperwork, but can allow homeowners to walk away without owing additional money.
A short sale home isn't any different than other homes for sale. In fact, these properties can be quite profitable for real estate investors or buyers looking for a good deal. The downside of purchasing short sale homes is the transaction must be handled through the borrower's mortgage lender.
Real Estate Investing article on "Short Sale Home"
June 13, 2009
Bank Short Sale
A bank short sale refers to real estate that is either in foreclosure or has been returned to the bank. With the massive influx of foreclosure real estate, many mortgage lenders are beginning to engage in short sales to avoid the expense of the foreclosure process.
Bank short sale properties can consist of single family homes, condominiums, mobile homes, manufactured homes, commercial real estate or vacant land. When borrowers become delinquent on their mortgage note and unable to fulfill their financial obligation, lenders might allow them to engage in a short sale.
Real Estate Investing article on "Bank Short Sale"
June 05, 2009
Short Sale Real Estate Investor
Short sale real estate is property that has been sold for a lesser amount than the balance due on a mortgage note. This type of real estate transaction occurs when a homeowner is no longer able to fulfill their mortgage obligation and defaults on their loan. In order to stop foreclosure, the lender can elect to allow the homeowner to sell the home for less than is owed on the loan.
Typically, lenders only engage in short sale real estate when the current market value is less than the loan on the property. Short sales are only available to homeowners who have no equity in their home and owe more than the property is worth.
Real Estate Investing article on "Short Sale Real Estate Investor"
