The credit rating of financially distressed homeowners defaulting on their mortgage payments will certainly take a hit. Whether their residential property is foreclosed or underwent a short sale. With a short sale, however, it is quite possible to minimize its adverse impact on your credit score. You may even be able to preserve your…
Foreclosure activity has declined dramatically across the U.S. Here in Missouri, in fact, the Federal Reserve Bank of St. Louis declared recently that the Show-Me State exited the foreclosure crisis auspiciously at the end of 2016. Nonetheless, the foreseen regime of higher interest rates in the years ahead could still bring foreclosure issues to…
True, inheriting a residence from a dear departed involves a wonderful gift. Selling it, however, could be a challenge especially for those unfamiliar with the legalities involved on inheritance that could hinder the heir’s efforts to sell inherited house fast. Probate is one of the major obstacles which typically delay the quick sale of an…
We all want to get top dollar when we sell our house, don’t we? Setting off a bidding war on a property to get the most from a House Sale, however, is easier said than done. Even drawing a serious buyer alone would take some well-thought steps starting from planning to actual implementation. Consider…
Many senior homeowners 62 or older find a reverse mortgage attractive, and why not? This financial tool is a loan program insured by the Federal Housing Administration (FHA) wherein you could convert your home equity into cold cash. Also called home equity conversion mortgage (HCEM), this loan allows you to choose on a fixed monthly…
There is no hard and fast answer on whether to update a house or sell it. And there are just too many variables to consider. There can’t be a one-size-fits-all solution for folks in a quandary whether to upgrade their residence or sell house fast. There are some pointers to consider though which could be…
We will pay for you to move. Proceeds from the sale of your house could be significantly trimmed by closing fees plus other miscellaneous costs including the expenses in moving to your new home. Although many closing fees are the responsibility of the home buyer, many of the other expenses in closing a home…
We often hear or read foreclosure and short sale lumped or cited in housing market reports. These two real estate terms, however, are totally different though they have an interrelation. A foreclosure becomes imminent when a borrower misses mortgage payments for three to six months. If this happens, a notice of default will be…
A rental property is a major investment that for sure entailed some serious due diligence on your decision to become a landlord. Conversely, selling it would require a lot of critical thinking and analysis. Nonetheless, bias toward sale of an apartment or a landlord opting out is immediately suggested by these five signs: The Market…
Buying distressed properties, meaning a foray into foreclosures/REOs and short sales, and renting out the purchased houses could be a lucrative venture. There are some challenges though in order to successfully carry this out. Foremost of these is getting a cheap leverage or the right home loan financing to buy a distressed property. U.S. mortgage…