The Complete Guide to Short Sales – guide book by Maryann Smith Little We are so happy to announce that Maryann’s book was published this year 2020. She wrote this book during Covid to give agents, attorneys, owners, and investors insight on the exact steps to take if you plan on negotiating your own short […]
Short Sale Vs. Foreclosure on Your Credit Report
Short Sale Vs. Foreclosure on Your Credit Report @maryannsmithlittle##shortsales ##foreclosure ##debt ##credit ##property ##home ##house ##realestate ##listing ##fy ##boss ##ceo ♬ original sound – maryannsmithlittle
Forbearance – BEHIND the glass – A look at investors and servicers and what is happening
Forbearance – BEHIND the glass – A look at investors and servicers and what is happening This is part one of two of my interview with Patrick Queally on Forbearance. This section is mainly behind the scenes look at the investor and servicer of a loan and what their responsibilities are. Maryann: Hey guys! […]
What is a forbearance and how does it actually affect your credit?
Maryann Little from Short Sale Mitigation speaks with Mortgage Loan officer Patrick Queally and gets some down dirty answers on Forbearance. Patrick: We talked about it from a big picture from an industry standpoint though let’s talk about what the forbearance plans mean for consumers and I’m going to use real simple math. Maryann: Let’s […]
Why do homeowners choose Short Sales over Foreclosure?
What is the reason why do you want to choose a short sale over a foreclosure? There are many reasons why a homeowner would want to do a short sale to avoid foreclosure. Many just can’t afford their mortgage anymore. Today we’ll briefly cover two main reasons homeowners have an interest in completing a short sale […]
Financed VS. Hard Money in a Short Sale
What is the difference between Financed and Hard Money in a Short Sale There are common misconceptions regarding the terms, “Financed vs Hard Money” when purchasing a short sale in Massachusetts or any state. Please keep in mind if you’re an investor of a short sale when you are putting an offer in and […]
What is a Reverse Mortgage Short Sale?
REVERSE MORTGAGE short sale is a little bit different from a traditional short sale. In a reverse mortgage, the homeowner aged 62 or older allows using the equity in their homes to receive cash without having to make any payments. The entire loan balance becomes due and payable when the homeowner dies, moves away permanently, […]
How SERVICE TRANSFER affects your Short Sale?
A SERVICE TRANSFER is a process whereby one servicer transfers a loan over to a different servicer. The servicer of your loan might be the bank that you got your loan from or it might be a separate company that the bank hired to manage your account, and basically, they could change servicers multiple times. […]
What is a Short Sale?
So quite simply, a short sale in real estate occurs when a property has NEGATIVE EQUITY, and usually for a short sale to be approved, a homeowner has to have a hardship.
How far in default is TOO FAR in order to take a HUD-insured short sale?
How far in default is TOO FAR in order to take a HUD-insured short sale? If you’re going to list a HUD backed short sale then this video is for you. The US Department of Housing and Urban Development or HUD has unwritten guidelines on how far in default a borrower can be before […]