Archive for the 'Short sales' Category

Owners get help in choosing short sale over foreclosure

April 23rd, 2010

Written by Frost Mortgage

Homeowners will now have
incentives to agree to a short sale (the process of selling for less than is
owed on a home) thanks to new federal rules instituted earlier this month. A
foreclosure hurts an owner’s credit rating for longer than a short sale will,
and the new rules make the choice easier by quickly setting bounds on the
minimum the home will be sold for. Lenders win because they lose only about 19
percent on a short sale as opposed to 40 percent on a foreclosure. Owners also
receive more in moving expenses and potentially in closing costs through the
FHA.

As experts in the field of FHA loans, we pay close attention to these
developments. Are you a Broker/Owner or Producing Branch Manager who is as
interested as we are in these issues? If so, take a look at Frost Mortgage for
net branch opportunities. We think you’ll find that
our Branch Partner
opportunities are the best in the business. We look forward to talking with
you.

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