What is a 'short sale'?
A “short sale” is an option for a homeowner to avoid foreclosure when they can no longer afford the mortgage on the home. In a short sale, a servicer allows the borrower to …
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Why Would a Lender Agree to a Short Sale?
Banks and other lenders generally agree to short sales in order to avoid having to foreclose on a property and take it into their inventory. Most lenders would rather cut their losses and avoid a …
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How To Avoid Foreclosure
Are you facing foreclosure? More and more people are finding themselves in the difficult and unfortunate position of anticipating foreclosure of their homes. However, there may be alternatives to foreclosure. The options may vary depending upon your situation and you should contact your lender to explore those options sooner rather than later. The good news is that …
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A Plain Language Explanation of Your Options for Avoiding Foreclosure
Whether you're in foreclosure now or worried about it in the future, understand that there may be practical ways you can avoid foreclosure. Today, lenders are more willing than perhaps they have ever been to help you stay in your home and be able to afford your payments. The most common methods used to bring loans current are described below: Bring Your Loan Current - …
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