Tatum Ranch Short Sales

Ready to list your property?

admin — Tue, 25 Jan 2011 21:57:07 +0000

It’s important when deciding to list your property for a short sale, to know all the tax, financial and social ramifications. We can help you understand these options. If you are ready to list, or have questions pertaining to a short sale, click our About page at the top, and call us directly! We’re…
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Options to Foreclosure

admin — Tue, 25 Jan 2011 19:30:37 +0000

Below are some options you have when facing a foreclosure.

1. Sell the home as a Short Sale

2. Payoff or Refinance

3. Reinstatement

4. Loan Modification

5. Forbearance

6. Partial Claim

7. Deed in Lieu of Foreclosure

8. Chapter 13 Bankruptcy

What is a short sale?

admin — Tue, 25 Jan 2011 04:47:15 +0000

A short sale is when the sale of Real Estate that the proceeds come up short of the outstanding balance on the property. It commonly occurs when the home owner can no longer pay the mortgage payment and the lender agrees to sell the property short in order to mitigate their loss vs taking the home to foreclosure.

When the lender agrees to the short sale, this does not mean the borrower is released from all obligations to pay the deficiency. It is always good to consult with both a Real Estate Attorney, as well as a certified CPA that has a background in Real Estate Taxes.