Posts tagged: short sale

Virginia is a Caveat Emptor State – What Does That Mean to Homebuyers?

In the Commonwealth of Virginia, a large chunk of the burden to discover the pluses and minuses of a home fall on the buyer.  You see, Virginia is a caveat emptor state, which means “buyer beware”.  Now, if you are buying a home with a lot of pluses, that is great!  But what about minuses, [...]

Thursday October 7th, 2010 in , , , , , , , , , , , , , , | No Comments »

Homebuyer Tax Credit: 70 days left

If you are interested in taking advantage of the homebuyer tax credit and buy a home in Northern Virginia, the clock is a-ticking. Seventy days to find your home sounds like a lot of time, but it will surely go by very quickly as you are competing with throngs of other buyers looking to cash in.

Friday February 19th, 2010 in , , , , , , , , , , , , | No Comments »

Foreclosure Alternatives: Bankruptcy

A bankruptcy may stop a foreclosure and allow a homeowner to reorganize his debt and keep his property. The reality however is that most of the time this is not the case and the bankruptcy only stalls the foreclosure.

Wednesday December 2nd, 2009 in , , , , , , , , , , , , , , , , | No Comments »

Foreclosure Alternatives: Deed-in-Lieu of Foreclosure

A Deed-in Lieu (DIL) of Foreclosure is sometimes referred to as a “friendly foreclosure” since the homeowner essentially gives the Deed back to the bank. The bank agrees to take the Deed back in exchange for the property and the homeowner and back part ways with no further recourse.

Tuesday November 24th, 2009 in , , , , , , , , , , , , , , , , , | No Comments »

Foreclosure Alternatives: Mortgage Loan Modification

A Loan Modification is a change to one or more of the terms of a loan. For example, this could take the form of a lower interest rate, as in going from 7.5% to 5.5%. Or, it could involve extending the term of the loan, as in going from a 30 year term to a 40 year term. Whatever the case may be, the goal is to reduce the mortgage payment to one that the homeowner can manage and allow them to maintain ownership of their home.

Thursday November 19th, 2009 in , , , , , , , , , , , , , , , | No Comments »

Foreclosure Alternatives: Forbearance

Our second foreclosure alternative to look at is forbearance (or repayment plan). Think of forbearance as reinstatement on a payment plan rather than in one lump sum. Much like the reinstatement we looked at yesterday this is a good option for homeowners experiencing a temporary hardship and the homeowner will be required to pay their lender what they are owed.

Friday November 6th, 2009 in , , , , , , , , , , , , , , , | No Comments »

Foreclosure Alternatives: Reinstatement

In my first of a series of posts on foreclosure avoidance options, we will look at the quickest way to “get back in the good graces” of your lender – reinstatement.

Thursday November 5th, 2009 in , , , , , , , , , , , , , , , , | No Comments »

Foreclosure Alternatives: In Depth

In a previous post, I provided a list of alternatives to foreclosure with a brief description of what they are. In the coming days, I will provide a closer look at each of the alternatives. A wealth of foreclosure resources can also be found at www.NorthernVaShortSaleHelp.com.

Wednesday November 4th, 2009 in , , , , , , , , , , , , , , , | No Comments »

FSBO Tips for Selling Your Woodbridge Home

Selling a home is complicated and full of legal issues that anyone considering selling “by owner” needs to be aware of. However, two of the most important things you need to know in order to be successful as a FSBO (for sale by owner) home seller have nothing to do with legal issues.

Friday October 23rd, 2009 in , , , , , , , , , , , , , | No Comments »

Helping Families Save Their Woodbridge Homes

If you’ve been dealing with the possibility of foreclosure, you may have missed the news, so here are a few uplifting highlights that can make all the difference.

Monday October 5th, 2009 in , , , , , , , , , | No Comments »