I just came across a great article written by an Oregon Real Estate Broker. She talks about using a reverse mortgage to stop foreclosures against senior homeowners. Some seniors who even have their house paid off but are behind in property taxes just a few thousand dollars are facing foreclosure because they don't know that they have any options.
I recently was able to help a senior couple who had lived in their home over 20 years save their home from a Sheriff's Sale. It was one of the most satisfying transactions I have ever done in this business and my clients were truly grateful.
If you know any senior homeowners who may be having a hard time making ends meet, I would love to talk to them.
Here is a link to the article.
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Short sales are an increasingly common real estate practice with a somewhat confusing name. It doesn’t refer to the time the sale takes but that the selling price of the home falls short of paying off the existing loan. In fact, short sales rarely take a short time.
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