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Short Sales Are Anything But Short! | Richbroker's Blog
https://richbroker.wordpress.com/2009/04/22/short-sales-are-anything-but-short
Keeping You Current on Real Estate Issues. Laquo; What is a short sale? You’ve Purchased a Foreclosure Property…But Do You Legally Own It? Short Sales Are Anything But Short! Certainly by now, most people have heard of short sales, the by-product of a market saturated with homes worth less than their mortgage balances. But for those who haven’t engaged in a short sale, let it be known that short sales are anything but short. We’ve all heard the axiom, patience is a virtue , but because we live in a world...
What is a short sale? | Richbroker's Blog
https://richbroker.wordpress.com/2009/04/22/what-is-a-short-sale
Keeping You Current on Real Estate Issues. Short Sales Are Anything But Short! What is a short sale? Essentially, a short sale is when a lender faced with the prospect of having to foreclose on a mortgage for non-payment, instead agrees to accept a payoff that is short of the full mortgage balance owed by the defaulting homeowner. As lenders began to accumulate increasing numbers of foreclosed, non-performing assets, the word began to circulate that lenders would consider “short payoffs” of m...The prima...
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Richbroker's Blog | Keeping You Current on Real Estate Issues
Keeping You Current on Real Estate Issues. You’ve Purchased a Foreclosure Property…But Do You Legally Own It? April 23, 2009. Purchasing a bank owned property has long been considered to be one of the best ways to buy real estate. Typically, a below market value price can be obtained and because the foreclosure process wipes out all junior liens on the property, the title to a bank owned property is assumed to be guaranteed clear and marketable. In a nutshell, this case revealed that while Wells Fargo an...
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My name is Rich Brome. I'm a web developer living in Philadelphia and NYC. This particular page is a little about my history. I grew up in Front Royal, Virginia. Front Royal is located in northern Virginia, in the scenic Shenandoah Valley. I went to public school, graduating from Warren County High School, where I was involved in theatre and newspaper. High school is also where I first started making web sites, including the first version of this site, and my high school's first web site. I was there for...
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