Oh Those Pesky 2nd’s

10% of the amount owed:   As we all know the land of short sales is anything but settled.  Even after three years of doing this full time there always seems to be something new coming or going…like unsecured promissory notes or confession of judgments.  Over the summer all of the investors and servicers for…

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Multiple Short Sale Offers

NORTH CAROLINA SHORT SALE ADDENDUM. The North Carolina Short Sale Addendum to the Offer to Purchase and Contract states: “Buyer and Seller understand that additional offers may be received by the Seller’s Agent, which must be presented to the Seller pursuant to North Carolina law. Such offers may be accepted by the Seller as backup…

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The mantra for a Buyer should be WHAT IS THE FASTEST WAY TO GET MY OFFER APPROVED AND THIS SHORT SALE CLOSED. There is a long track of hurdles to get over between the offer and closing. That list includes: 1) document collection; 2) package compilation and submission (sometimes multiple times); 3) document review and…

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When a foreclosure process has begun, time is of the essence. It is important for property owners to decide quickly what course of action they will take to make sure their rights and interests are protected and their goals are attained before a foreclosure sale is completed. While there are many directions a property owner may go when faced with a mortgage foreclosure, a short sale in many cases is an individual’s best option, and the option most likely to also be deemed favorable by a future lender. Please read further to learn of different options you have if you are faced with foreclosure.