Truth in Foreclosure

My Short Sale Part 5

Part 5 in the on-going series of posts about selling our home in Virginia with an underwater mortgage. As 2009 rolled around and we looked at out interest rate resetting, we were becoming concerned about what was going to happen to our payments. After looking at the options, we were pretty sure we wanted to sell. So I drafted an explanatory e-mail to our tenants explaining we were considering selling the house at the end of their lease. Come to the site to see how they responded.

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Freddie Mac Allows Homeowners to Stay After Foreclosure

Freddie Mac announced the official launch of its new REO Rental Initiative giving qualified tenants and former owners the option to lease their recently foreclosed properties on a month-to-month basis.

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My Short Sale Story…Part 2

This is part 2 in the on-going saga of selling our house in Virginia with an underwater mortgage. Today's topic is the financing we got when we purchased the house. We bought our house for $303,000. Looking back, it was more than we could really afford, but I had just gotten a big raise and promotion at work and we were tired of...

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My Short Sale Story…as it happens

Last October, I wrote about the rental house we left behind in Virginia when my company moved us unexpectedly. Well, it looks like we're going to be selling it here in the next couple months...and we're upside down on the mortgage. So I thought it might be helpful and encouraging to you if I exposed our situation as we walk through it. I'll post about once a week, so come along as my team helps my family and puts itself to the test right before your eyes...

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Good News for Renters

If you're renting a home that's going through foreclosure, Fannie Mae announced that they a working on a program for you. In the near future, they will not force you to move out of the home even if the foreclosure completes and the person you're renting the home from loses it.

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