September 24, 2010
Short sales are currently considered one of the most unpleasant forms of real estate transactions. Nevertheless, many homeowners in northern California are turning to them as a way to improve their financial situation. At Able Financial Solutions, we consider short sales to be as uncomfortable as they are costly, but we also recognize that under [...]
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September 6, 2010
Recently, Bank of America sent out nearly 100,000 solicitations to distressed homeowners offering them a chance at a deed-in-lieu transaction. “Deed-in-lieu” refers to giving the deed to your home to a lender in order to circumvent the foreclosure process. You get to walk away from your home, and the lender declares the debt resolved because you returned the home, your collateral. Many lenders have announced that they will offer a variety of incentives for this type of transaction because it saves them a great deal of time and money in processing costs even though they may take a hit when they try to resell the home in today’s market.
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