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What is a Short Sale Package?
When doing a Short Sale, the lender will require a short sale package be submitted before any consideration will be given to a request for a Short Sale. The following documents will be requested by...
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Why are so many homeowners underwater?
Several years ago, the psychology of the home buyer was to become a homeowner as part of the “American Dream”. If they faced an obstacle paying their mortgage, they could sell the house for more than...
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The Problem with Short Sales: TIME
The length of time it takes a lender to provide answers is a common problem stated by those who try to work with short sales. The lenders simply do not handle all of the requests as quickly as needed....
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What are the benefits for all parties involved in a Short Sale?
To my Short Sale enthusiasts! I know all Real Estate professionals have tossed and turned over whether or not to get involved in Short Sales. These transactions are not easy, there is no set...
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Recent Trends in Real Estate
A recent report indicated that from ninety-eighty of the top cities in the United States, it is now cheaper to own a house than to rent. The report attributes this phenomenon due to low interest...
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Why doesn’t everyone with no equity in their homes do a short sale?
This sounds like a no brainer! Buy a house, and if the value depreciates, just sell the home and get a short sale payoff. However, its not quite as simple as that. When getting involved with a short...
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New Short Sale Rules!
As of February 2012, new rules pertaining to Short Sales have been implemented designed to help preserve the credit of Short Sale seller’s who aside from not being able to pay, are current on their...
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Shorts Sales vs. Foreclosures
In recent news, it has been reported that short sales made up 23.9 percent of home purchases as compared to foreclosures, which comprised of 19.7 percent of sales. These numbers from January 2012...
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What is the importance of having a Will?
A will is a very important document to have. If you die without a will, the State of New York will determine who administers your estate and to who your property will pass to. If you are married and...
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Hurricane Victims Assistance
To those of our clients who have experienced the devastating results of Hurricane Sandy, the Law Office of Michael S. Reinhardt & Associates is here to assist those in need. We have received many...
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