If you found yourself having to negotiate with your lender to get out of your mortgage and have a Gulf Shores short sale on your credit history, there are some things you need to do if you ever want to become a homeowner again. Anyone who has been through a Gulf Shores short sale is […]
Gulf Shores Short Sales vs Foreclosures
There is still confusion today over the difference between Gulf Shores short sales and foreclosures, so we wanted to hit the highlights of each in this short real estate minute video. Both Gulf Shores short sales and Gulf Shores foreclosures will negatively impact your credit and ability to buy another home, but going the short […]
HUD Announces New Short Sale Requirements
Effective October 1, 2013, HUD has announced the following changes to their Federal Housing Administration (FHA) short sale requirements. To be eligible, one must successfully complete a short sale under the FHA short sale program. Short Sale Requirements for Gulf Shores Borrowers 1) They cannot list the property with or sell it to anyone with […]
Gulf Shores Short Sales Taking Longer
Perhaps the greatest advantage of Gulf Shores short sales to beleaguered homeowners facing default and foreclosure is the opportunity to move on with life and put the bad debt behind them as quickly as possible. Typically, Gulf Shores short sales take longer to sell than normal home sales or foreclosures because of the time required […]
Gulf Shores Short Sale Deals Are History
The idea of finding a Gulf Shores short sale significantly less than market value should be forgotten. Those days are long gone, if they ever really existed in the first place.Lenders are just not going to absorb the loss of one dollar more than they have to. Lenders are using automated systems to verify home […]
How a Gulf Shores Short Sale Can Unravel
Although selling a Gulf Shores house for less than the amount owed on the mortgage (aka a Gulf Shores short sale) has become more and more commonplace these days, such sales are packed with complications that can cause the deal to unravel. Things to Watch for With a Gulf Shores Short Sale Often times, the […]
Why Gulf Shores Short Sales Could Grind to a Halt
Gulf Shores short sales could grind to a screeching halt at the end of the year, and here’s why. Gulf Shores Short Sales – What Exactly Are They? A short sale is when the bank allows a home to be sold for less than the value of the mortgage. The bank takes the loss, but […]
Gulf Shores Short Sales – Things To Watch For
Gulf Shores short sales are not as easy (or short) as most people might think. Even with reports that some lenders are trying to speed up the process, short sales can be very complex and only attempted by well-prepared buyers and sellers. Gulf Shores Short Sales – What Can Go Wrong? Gulf Shores short sales […]
Losing Your Gulf Shores Home – Finding a Place to Live
If you are in the unfortunate financial position where you are losing your Gulf Shores home due to foreclosure or short sale, your credit score is probably going to take a pretty hard hit. In “normal times,” this could make it really tough to rent your next place of residence. Luckily, these are not “normal times” […]
Bank vs Gulf Shores Homeowner – When Does A Short Sale Benefit Both
A question being asked frequently in the Gulf Shores real estate market is, “What is a short sale?” Short sales used to be an infrequent type of real estate transaction, but with current economic conditions, more and more homeowners are opting for this type of sale. A short sale occurs when a homeowner sells their […]