Short Sale Videos |
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Stringent loan criteria’s and declining home values are leading to a record number of foreclosures. John Nelson chats with Brian Williams about the alternatives to foreclosure and the benefits of a short sale. As Foreclosures rise, more sellers and lenders consider short selling due to the enormous benefits for both parties involved. As the number of mortgages entering the foreclosure process are increasing to record levels, the 44 million mortgages, about 0.72 percent — that's 254,590 or one out of every 122 loans, are now officially in foreclosure. Foreclosure occurs when borrowers have not made two or more payments and lenders respond by filing a legal notice and commencing a legal proceeding to take possession of the home. |
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