Why I feel lenders will be more receptive to lending to sellers who did a short sale vs. a foreclosure in the coming yearsPosted by Ben Nicolas on
The article fron Transunion entitled "TransUnion Study Finds Opportunity in Mortgage-Only Default Market" is the first data I've seen that shows what many real estate and mortgage industry participants have known for a long time. People that have good credit take away mortgage lates related to a loan modification or a short sale are much lower credit risks than people that actually let their house go to foreclosure. There are many reasons that may have forced a consumer to move at a time when due to greater macro economic circumstances there home may have been underwater. They could have been laid off and had to find a new job in a new area being a very common cause in our current economy as an example.
I've always said that lenders want to lend,…
2619 Views, 1 Comments