Progress in the Short Sale Process The government will give $3000 toward moving expenses to the sellers in the short sale deal or to those who agree to a deed in lieu of foreclosure. This will certainly assist the distressed homeowners who don’t quite qualify for the mortgage modification program.

Shadow Inventory Investment Opportunities In addition, since the governmental modification programs and refinance programs didn’t avail themselves to homeowners who were either too wealthy or owned too much on their homes; a very large percentage of the shadow inventory homes are luxury class. Many of these homeowners have given up and have vacated their homes.

The Impact of Foreclosure The best way to avoid foreclosure is to pursue alternatives like a short sale or a loan modification. Don’t run from the obligation, but instead confront it head on with an experienced Realtor and your lender to determine the best approach.

Foreclosure vs. Short Sale Always keep in mind that a Short Sale Attempt DOES NOT STOP THE FORECLOSURE PROCESS. The foreclosure process is handled by the attorneys hired by the bank and has a definitive starting point called the Lis Pendens and a definitive(more…)