Posts by Tom Wetmore

A short sale is a good way to prevent a foreclosure should you become unable to pay your mortgage payments. Because a foreclose realizes a considerable loss to the bank, most lenders will approve a short sale in order to avoid this unfortunate scenario. A short sale takes place when a homeowner sells the home…

Know if You Qualify If you have a provable hardship that is preventing you from affording your monthly mortgage payments, you may qualify for a short sale. A hardship can include illness, death, unemployment or divorce. Keep in mind, if you have a significant amount of liquid funds available with which to pay the mortgage,…

What Is Real Estate Owned? Homes that have been foreclosed on are called REO, or real estate owned (by the bank.) Borrowers who have variable interest rates and first time home buyers are especially at risk of experiencing foreclosure on their homes. What Is the Typical Condition of an REO? Foreclosed homes are typically in…

What Is a Short Sale? A short sale is when a borrower is unable to make mortgage payments and is forced to sell the home while the proceeds are less than what is owed to the lender. When this type of sale happens, the bank suffers a financial loss and the borrower can walk away…

Whether you’re planning to sell your home or buy a new one, you want to get the best deal for the property. Research is your ally in this regard. While it may not be your favorite pastime, knowing where the real estate market is in your vicinity will put you miles ahead in your efforts…

If you’re trying to sell your home, it’s essential to know what’s happening in the housing market. Trying to sell at the wrong time could bring you unnecessary stress or result in an unprofitable sale. While you can’t control the housing market, predicting it gives you the best chances for success when you’re selling your…

Following a foreclosure, you, as the mortgage lender or investor, likely hope to sell the property at auction for all or close to what the default owner owed on the property. Unfortunately, if the auction fails to yield the price you want, the home will become a real estate-owned property. While you may be able…

A short sale in real estate is also called a “pre-foreclosure sale.” As that term suggests, it may be a way for a homeowner to avoid looming foreclosure. An Opportunity to Buy Nice Houses Below Market Value Short sales can be useful when a homeowner is underwater — he owes more on his mortgage than…

Do you have a passion for horses and equestrian life? Have you been searching for months for an equestrian property that will meet your needs? It can be frustrating to continually search and not find what you are looking for. These are a few tips to help you find the property of your dreams. Set…

If you are interested in horses, you should consider purchasing an equestrian property. While owning horses is expensive initially, it is a reliable long-term investment. Whether you are a professional rider or purely an investor, there are some factors to consider when looking for equestrian properties: Water Supply Horses need clean water to thrive. The…