Short Sales & Foreclosures

Foreclosures Decrease Number of “Underwater” Homes

By Michael Zimmerman | Published: December 20, 2010

The number of Americans who owe more on their mortgage than their home is worth fell in the third quarter.  This sounds like good news until you realize the decline was not caused by rising home prices (they didn’t rise in the third quarter).  Instead, the numbers fell because lenders aggressively drove more homes into foreclosure. … Continue reading Foreclosures Decrease Number of “Underwater” Homes

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Second Mortgages Derail Short Sales

By Michael Zimmerman | Published: December 16, 2010

Homeowners across America are trying to avoid foreclosure by conducting a short sale (sell the home for less than the amount owed on their mortgage).  Many of these owners have two mortgages on their home.  Unfortunately, standoffs between lenders over a few thousand dollars threaten to disrupt the short sales. First mortgage lenders typically allow … Continue reading Second Mortgages Derail Short Sales

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Short Sale Opportunities in Honolulu Real Estate

By Michael Zimmerman | Published: June 26, 2010

The current recession has created a few opportunities for Honolulu home buyers and investors.  One of those opportunities is the short sale.  Basically, a short sale results when the owner owes more to the lender than their home is worth.  For sellers, a short sale is a means to avoid foreclosure.  For buyers, a short sale may be a great investment … Continue reading Short Sale Opportunities in Honolulu Real Estate

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Are You Considering a Honolulu Short Sale?

By Michael Zimmerman | Published: February 12, 2010

Disclaimer:  Consult your attorney and your CPA to ensure you fully understand the ramifications of a short sale. Given the state of our economy, it appears short sales are becoming more popular as unemployment drives some folks toward foreclosure.  Hawaii foreclosures rose in 2009, destroying owners’ credit in the process.  A short sale may have helped minimize that damage.  For … Continue reading Are You Considering a Honolulu Short Sale?

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Do You Qualify for a Honolulu Real Estate Short Sale?

By Michael Zimmerman | Published: May 18, 2009

First, a disclaimer.  I cannot stress this point enough: consult your attorney, your CPA and your real estate professional to ensure you fully understand all ramifications of a short sale. In just the last two weeks, I have received phone calls from three people who were considering a short sale.  Each has his/her own reasons … Continue reading Do You Qualify for a Honolulu Real Estate Short Sale?

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