Hien Lam
About short sale situation
My mom about to go to a RE agent to do a short sale on her home. So, I need know the truth information about short sale first before I let her go. Anyone please give me some advice a.s.a.p... "thanks"
What is...
Theresa K.
Foreclosing on a second DOT
If a lender has the first and the second on a property does the lender ever foreclose on the both loans or foreclose on just the second? Or do they always just foreclose on the first and consider the second a loss? ...
Joel Gabelman
Returning back to Cleveland!
Just moving back to Cleveland, Ohio after being gone almost 10-years. After grad school at CWRU, I went to Chicago to work in middle market real estate lending ($50MM+), and then downstream into small business lendin...
Tim G.
RE Definitons
I am creating this post to get a better understanding of the many different terms used in real estate in the hopes to further my knowledge and hopefully anyone else who comes across this site. As a newbie, many times ...
Stephen Sokolow
Buying a Pre-Foreclosure
Hi,I wanted to get advice on buying a pre foreclosure. The person is asking $160,000. Realty Trac shows that the mortgage is for $130,000. I plan on going to the recorders office tomorrow to find out how much the judg...
Sandy Uhlmann
What Happens to Second lien if first accepts a DIL?
If a first lien is in default and rather than be foreclosed on, all parties agree to a DIL, is the second lien extinguished as if it had gone through a full foreclosure or does it still exist? If it still exists, I a...
Karen Parker
Deed in Lieu of Foreclosure
I was wondering if anyone could tell me which process is the most harmful to your credit, Deed in Lieu of Foreclosure or a short sale?
Shaniqua Dupree
Possible Foreclosure Strategy... Curious To Know
Hello All,So ive been thinking about foreclosure homes and how to get people out of the situation by creating a win win situation. So I have a possible strategy but I want to know if it sounds ok.Example Scenario:I ha...
Account Closed
What does a "cash offer" really mean?
I feel silly even having to ask this question, but how exactly does a "cash offer" transaction occur on a home/lot? Deals are moving quick in my area, often with several cash offers made in the first day a deal is av...
Shawn Abadie
2nd position lien-holder / foreclosure issue in NJ
Hello all,
I'm a member from AZ, but have a brother in NJ with a complicated issue. Small house, $6000 left on mortgage with 1st bank. Equity line of credit with 2nd bank. Brother doesn't want the house any longer...