November 2, 2013
The Difference Between "In Foreclosure" and "Foreclosed"

What's the difference between these two terms? In Foreclosure In foreclosure means that the house is in the process of being foreclosed. This is the time period where the seller has been notified of the start of the foreclosure process, to the sheriff sale, to the end of the redemption time period. In Minnesota, we […]

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August 8, 2013
Why can't I use an FHA loan on this house?

Here's the situation. If you are using an FHA loan to purchase a home, the house will have to meet some certain requirements for FHA to insure the mortgage. They want to make sure that the risk of loss is minimized so the appraiser is to look for certain aspects of the house to meet […]

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March 22, 2013
Traditional Sale vs Short Sale vs Foreclosure

Traditional Seller A traditional seller is a home that is owned by a person (or people) that are trying to sell their home. This is the typical seller, such as John and Jane Doe on Main Street. When making an offer to a traditional seller, the response time is usually within a few hours, and […]

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May 12, 2009
Homeowner Consequences for a Successful Short Sale Vs. a Foreclosure in Minneapolis

I have written previous articles defining short sales and foreclosures.  I will now compare the consequences to a homeowner of a foreclosure versus those of a successful short sale.

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April 30, 2009
A Brief Explanation of Foreclosures

These days, you can't read the headlines without noticing that there are many foreclosed homes around the country.   Since it is so prevalent, we thought it would be best to offer a brief explanation of how the foreclosure process works.  First of all, a little clarification.  "In foreclosure" is the process that leads up […]

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April 11, 2008
Foreclosure Bargains??

Everybody wants a bargain. Everybody knows foreclosures are bargains. Are they? In this article, we’ll take a look at what happens with a foreclosure. Being in the Minneapolis area, this information is more pertinent to the Minneapolis and St. Paul area houses, although it might apply to other areas as well.   But first, here […]

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