Reno Tahoe Real Estate News

Foreclosure vs. Short Sale – The Truth About The Consequences

It is true that both foreclosure and short sales have serious consequences for homeowners faced with the inability to pay thier mortgages.  The following are some of the ways homeowners are affected showing the difference between foreclosure and short sale.  (Source: Distressed Property Institute) PURCHASING A HOME IN THE FUTURE… Fannie Mae Insured Loans for Primary Residences - Foreclosure [...]

Will You Still Owe After A Short Sale or Foreclosure?

Many borrowers are under the assumption that their responsibility for a mortgage ends with a short sale or foreclosure.  This is not always the case.  In a short sale the mortgage holders are increasingly requiring borrowers to sign a promissory note, a written promise to pay back all or a portion of the debt, as [...]