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Posts Tagged ‘FORECLOSURE’

Winning the bidding wars

Short Sale Timelines

Dear Phyllis, Three weeks ago, we made an offer for a short sale listing. The seller’s agent acknowledged receipt and said she forwarded our offer to the bank. She says she still hasn’t heard from the bank and as you can imagine, we...

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Ask Phyllis: How to handle multiple offers

Reverse Mortgage Pitfalls

Ask Phyllis is a blog series of frequently asked real estate questions.  Have a question about real estate?  Email us here Dear Phyllis, Years ago my parents obtained a reverse mortgage; my father passed first. After our mother became i...

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The Pitfalls of Seller Financing 1

The Pitfalls of Seller Financing

Seller financing is also referred to as a seller carry back. Likely due to my banking background I believe there are many pitfalls to seller financing. As interest rates are cyclical, the benefits of seller financing increase when rates are ...

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Reverse Mortgage and Foreclosure

Reverse Mortgage and Foreclosure

Is a reverse mortgage more foreclosure prone? Last month, I closed escrow on a San Fernando Valley foreclosure. The former owner obtained a reverse mortgage.  When there is a reverse mortgage and the owner passes, the estate has six months ...

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