Foreclosure, Short Sale, and REO Listing are all terms that commonly found on real estate listings and are assumed to be similar, but are actually quite different. A real estate foreclosure is the forced sale of a property by a mortgage lender resulting from the default of the borrower on the loan payments or other […]
What does it mean if a listing states it is a short sale?
A short sale is a situation where a homeowner is attempting to sell a home that is worth less than the amount owed on its existing mortgage with their mortgage lender accepting the loss. The homeowner’s mortgage holder must approve the sale. It can take an additional 30 to 90 days to obtain the lender […]
Attention Houston Foreclosure Buyers
Real Estate Foreclosures Houston Texas: About to Grow Scarcer? In the past, Houston foreclosure buyers have been able to take their time combing through Houston real estate foreclosure listings. Savvy buyers have been looking for the kind of terrific Houston real estate bargains that the last few years have provided in bank foreclosures. But recent […]