The Bothell Short Sale Blog

Recent economic upheaval has taken a hefty toll. Looking forward to 2012, it’s impossible to know what’s next and the kind of an impact that an upturn or a downturn at the national level stands to have on your family’s finances. Regardless of what happens in Washington or on Wall Street, two things are very [...]

As recently as a few months ago, if you would have told a real estate agent who specialized in short sales that they’d be raving about a lender’s stellar service and rapid approval times—not to mention significant cash incentives for financially strapped homeowners for pursuing a short sale—you’d have gotten some strange looks. That’s all [...]

Does it feel like trust is one of the major casualties of the economic meltdown of 2008 – followed by the “Great Recession,” the “Jobless Recovery” and now the threat of a “Double Dip Recession?” Weren’t we assured that home values were destined to go up and up and up? There have been lots of [...]

I just completed a short sale in Newcastle using the HAFA program and it was great. The buyer got a beautiful home for an outstanding price and the seller was able to walk away with no deficiency on a 1st and 2nd Mortgage. They also received a check for $3,000.00 for moving expenses provided by [...]

A recent study in Nevada (a state that holds the nation’s highest foreclosure rate), found that only 5% of distressed homeowners knew they had alternatives to foreclosure, and only 3% took advantage of them. It was also found that 1 in 4 homeowners chose to “strategically default,” or allow their homes to be foreclosed upon [...]

Not if I have anything to say about it! The FBI reported a jump of 71% in mortgage relief fraud investigations from 2008-2009, and expects this number to have grown in 2010. That’s why I am educating homeowners on the cautions they need to take, and what the government has recently done to protect you [...]

As one of my most popular blog posts on Short Sales, I thought I would re-visit this. As a homeowner considering a short sale, it is important you understand the process. Following are some of the most common mistakes agents and homeowners make when handling a short sale. Your Property is Priced Incorrectly Mistake: Your [...]

Straightforward Bothell Short Sale Solutions to Avoid Foreclosure: The Short Sale Solution Lenders don’t want to foreclose and own your home and one of the most effective methods of foreclosure avoidance is the short sale. Lenders lose less in a short sale when compared to a foreclosure, and have been working hard with real estate [...]

Existing home sales up 12.3% in Dec – The expectation was a 4.7% growth so that is indeed good news, although the median sales price for existing homes fell further to $168k (people are discounting). The NAR says Distressed homes are 36% of market -That’s a big number, and it is actually even bigger. The [...]

Short sales are a terrific option for homeowners struggling with unaffordable mortgage payments. In fact, lenders’ losses due to foreclosure are projected to increase at record rates in 2011, giving them more reason to pursue short sales. Lenders are projected to incur losses as severe as 85 percent in foreclosure! Meaning, after deducting the expense [...]