Knoxville Area Short Sales

My Take: This is one of the primary components as to why so many people are pursuing a short sale to sell their homes.  Unfortunately, the homeowner has no control over the real estate market and when they realize their mortgage is higher than the value of their house, it can very frustrating.  I...

My Take: This should help to stimulate most of the major mortgage servicers to continue to promote the short sale option with delinquent borrowers.   GSEs Issue New Servicing Guidelines for Delinquent Mortgages 04/28/2011 By: Carrie Bay   Fannie Mae and Freddie Mac are issuing new guidelines to s...

My Take: As the short sale option becomes more popular and well known throughout our real estate market, more distressed property owners are determining that it's a great option for them.  It is an "everybody wins" transaction.  Industry Data Points to Record-High Level of Short Sales 04/25/2011 ...

My Take: It will be interesting to see how far this initiative makes it.  The one question I would have is, how would the government enforce this? Legislation Introduced to Speed Lender Response to Short Sales 04/14/2011  By: Carrie Bay Two lawmakers, one Republican and one Democrat, have joined ...

I felt inclined to vent today about how much BAD information there is out there regarding short sales. I hate to say it, but most of the bad information is coming from fellow real estate agents.  So many agents out there are claiming to be "experts" or "pros" at handling short sales because they ...

My Take:  Unfortunately, this is just a sign of the times. While it can be embarrassing, frustrating and emotional, the important thing is to be proactive and seek ways to improve your situation. For many people who are having trouble with their mortgage(s), a short sale is the best option. Poll:...

My Take:  Servicers just couldn't live up to the updated terms that became effective back in February, so the government has decided to modify things a bit. Still a good program for certain borrowers.  Treasury Department Issues New Guidance for HAFA Short Sales By Carrie Bay 04/07/2011   The U.S...

My Take:  More evidence that the industry is trying to improve the short sale process and make it more efficient.  I consider this only a small step in the right direction, but a good one nonetheless. We'll have to wait and see how effective the "Assistance Desk" really is. California Realtors an...

Question:  Do I qualify for the HAFA Short Sale Program? Answer:  Call me and I can let you know! Hah!  In all seriousness, this is a bit of a loaded question because a borrower has to meet several criteria in order to qualify for the program.  MOST of the top lenders and mortgage holders do part...

My Take: The government continues to push banks to explore foreclosure alternatives.  Their motives are generally selfish in nature (popularity with the people), but the result is a positive one for the distressed homeowner.  This article discusses loan modifications, but it also applies to short...