From the category archives:
A short sale will negatively affect your credit, but not nearly as much as a foreclosure or deed-in-lieu ~ read this entire article for details on each alternative. A short sale simply means that the amount of the mortgage balance owed is greater than the current market value of your home. Homeowners who are in [...]
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Losing your home to foreclosure due to an inability to keep up with your monthly mortgage payments is one of life’s most unpleasant experiences. It is also an event that keeps on affecting you long after your home is history by devastating your credit score. Regrettably, most people cannot be 100% sure that they will [...]
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Homeowners facing foreclosure often have the option of selecting a short sale or a deed-in-lieu of foreclosure as a possible solution to their financial difficulties. But are they? Which is the best choice? Like most alternatives, both have their upsides and their downsides. Understanding these options is the only way to make a truly informed [...]
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—–>Check out my post on how I successfully short sold my house
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Countrywide is the largest mortgage company in the US…think they are dealing with a short sale problem at the moment? You betcha. (not to mention short sales of their stock! Wish I had shorted them at $40!) They have now been taking over by Bank of America Mortgage. Countrywide’s Full Spectrum Lending division was the [...]
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It happened. My roommates/friends/renters know about my housing situation. They talked with someone posting a “notice of default” note on my house. I thought this might happen, but I was hoping it could be avoided with short selling the house. I just spent an hour with the roommate I am closest too explaining the whole [...]
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As a dumb 20-something, I day traded away over a quarter-million dollars and found myself deep in debt.
This blog documented my journey through bankruptcy, a short sale, living in my office and more. Now it's a resource for thousands of people in trouble every day.
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