Tagged : short sale 
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Bruce Swedal Earns Prestigious Designation to Help Homeowners in Danger of Foreclosure
Thursday, July 15th, 2010 at 8:02pm. 2106 Views, 0 Comments.
BRUCE SWEDAL EARNS PRESTIGIOUS DESIGNATION TO HELP HOMEOWNERS IN DANGER OF FORECLOSURE
BRUCE SWEDAL of RE/MAX SOUTHEAST, INC. 3600 S YOSEMITE ST. SUITE 150, DENVER, CO 80237 has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.
Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider…
What is a short sale?
Sunday, April 11th, 2010 at 5:15pm. 790 Views, 0 Comments.
To put this in basic terms a real estate short sale is when the proceeds from sale fall short of the loan balances which encumber the property. This happens when a home owner (borrower) can no longer pay the mortgage against their property. The lender may decide that selling the property short with a moderate loss is better than either pressing the home owner or foreclosure options. Foreclosure can mean larger costs to the bank and a less desirable credit report outcome for the borrower. A short sale does not necessarily release a borrower from the deficiency/remaining balance of the debt or the obligation to repay that deficiency.Short Sale Process
For a short sale to occur the mortgage lender needs to agree and facilitate the discounting of the loan…