While foreclosures and bankruptcies can have an impact on the housing market, they are unlikely to cause a complete crash on their own. It’s important to understand that housing market crashes are typically the result of a combination of factors, such as a significant oversupply of homes, an economic recession, or a financial crisis. Foreclosures…
There are many flavors of compromise you can strike with your lender if you are facing foreclosure. One of the toughest to execute is the short sale. What Is a “Short Sale”? The title “short sale” is somewhat misleading; many assume that “short” means quick, implying a transaction that has a short escrow period. Au…
It is common for homeowners who’ve lost a home to foreclosure to feel a certain sense of defeat—and even a little fear—when it comes to trying to buy another home. Frankly, nobody wants to default on their mortgage and lose possession of their home even once, let alone think about going through it again. But…