Short Sale vs. Deed-in-Lieu of Foreclosure: Which is the Better Choice?

Short Sale vs. Deed-in-Lieu of Foreclosure In my most recent post, we compared the merits of pursuing a short sale against suffering a foreclosure.  After establishing the guiding principle that foreclosures should be avoided whenever possible, we discussed a few of the advantages of a short sale.  But how does a deed-in-lieu of foreclosure fit in with all of this?  Obviously, a deed-in-lieu is better than a foreclosure from the mortgagee’s perspective, but how does it stack up against a short sale? No Clear-Cut Answer It was easy to resolve the foreclosure vs. short sale question because foreclosures are, generally speaking, a worst case scenario.  As such, a blanket conclusion supporting short sales was easy to reach.  That’s not the case when looking at the short sale vs. deed-in-lieu issue.  There are strong arguments for both and the right answer can be very context-specific. Differences of Opinion Let’s look at what various folks are saying ... Read more..

Short Sale vs. Foreclosure: Weighing the Options

Short Sale vs. Foreclosure: We’ve recently discussed home foreclosures and the various alternatives to “walking away” from one’s home, including short sales.  It seems reasonable to compare the short sales and foreclosures directly.  Which is the superior option for the homeowner who isn’t going to be able to make the required payments on his or hre property and for whom mortgage restructuring just isn’t possible> Overall, short sales are a better option. The Guiding Principle The short sale vs. foreclosure controversy should be informed by one core principle:  A foreclosure is the option of last resort.  Everything, including a short sale, is preferable to a foreclosure.  As DebtKid.com explains: The inevitable result of a foreclosure is the lender taking your house. Not only will you lose your house, but the lender can get a judgment against you for the arrearages you owe plus his costs for the foreclosure action. If that isn’t enough, your credit ... Read more..

Is there any way to get a mortgage loan with bad credit?

Hi there, I was wondering if there is any way at all to obtain a mortgage loan with terrible credit, my home is sold and I am looking at a condo, I have half of the money for the condo but will need another half through a mortgage loan. Is there any way possible to do [...] Read more..

SRCList Concentrates Efforts on Aiding Financial Services Sales Representatives by Giving them Contact Lists

Acquiring new customers is the primary goal of sales representatives in a host of sectors. In the financial services sector, sales representatives are constantly looking to build up their prospects of business in the most efficient way. SRCList is a contact list provider that a salesperson can choose to use to gain qualified leads. They offer sales lead lists to aid sales representatives in building their clientele quicker. SRCList.com offers lead lists of relevant leads that can help Insurance, Investment, and Mortgage Field Sales Reps convert candidates to clientele. The reason is that these leads already have a disposition towards financial services products. They have an cognisance of their need for superb financial services. In fact, they have indicated this through questionnaires, which is how their names make their way to this type of contact list. In principle, SRCList does the pre-work for the salesperson. They ... Read more..

Can a person get two car loans around the same time?

My mom just bought a new car a couple weeks ago. I bought a new car a couple days ago and I needed her to co-sign for me. Will she be able to have two loans? Will her being on my loan have a negative effect on her getting her own loan on her car? [...] Read more..