2008-housing crisis

One popular way out of a foreclosure is by offering the bank a short-sale

January 23, 2014 by ernest

Once you lapse on your mortgage payments you need to start to look for professional help. Either through a third party investor, legal team, or real estate professional, your chances of avoiding a foreclosure will increase once you seek qualified help.

After you contact an expert he or she will offer you several options to avoid foreclosure. One popular way out of a foreclosure is by offering the bank a short-sale. This will allow the borrower an opportunity to satisfy the bank loan while collecting additional income to relocate and start life afresh.

Without a short-sale, a borrower may be inclined to go through the court system. Once the bank presses its legal team against the borrower in a court, the borrower will have a difficult time against the bank’s legal counsel. [Read more...]

How can a foreclosure be a good thing?

January 22, 2014 by ernest

How can a foreclosure be a good thing?

Saving you money, and most of all, saving you from the agonizing process of foreclosure, is the concept of short-sale. If you, or a loved one, are falling into hardship, and without legal support, you should contact Premier Real Estate NYC today.

This is one of a handful of companies operating in parts of New York City today that have made it their duty to go the extra step in assisting homeowners in need. Many homeowners are unaware of the abundance of aid and assist programs for borrowers who are defaulting on mortgage and credit card payments. Without experienced, and steady guidance, many borrowers will not be able to meet bank demands, and will likely lose their property. [Read more...]

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Short Sale in New York City: The Truth about Short Sales and Your Credit Score

January 22, 2014 by ernest

Short Sale in New York City: The Truth about Short Sales and Your Credit Score

One of the key factors to the attractiveness of a Short Sale is the assumption that actually selling your home, even if it’s for less than what you borrowed, won’t cause as much damage on your Credit Score as a Foreclosure. Because this is such a central issue the questions begs to be asked whether or not this is true?

Not to disappoint you but, according to many experts, claims that Short Sales cause only a minor drop in your Credit Rating are simply false. In fact, in certain cases, particularly when your mortgage payments are more than 90 days late, a Short Sale can cause your FICO score to drop by as much as 150 points. This is very similar to the hit it would suffer upon a Foreclosure. [Read more...]

Filed Under: Uncategorized Tagged With: 2008-housing crisis, About Short Sales, foreclosure nyc, Foreclosures NYC, premier real estate nyc, real estate nyc, short sale nyc, Short Sales and Your Credi Score, Short sales NYC