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Phil Tesoriero

11 Short Sale FAQs

December 16, 2009

1) What exactly is a SHORT SALE?

A short sale is when a property is sold for less than the sum of all liens on the property.  The lender often  agrees to forgive the unpaid amount and releasing the borrow from any remaining obligations.
2) What conditions must exist for a lender/service company to consider a short sale?
The borrower [...]

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The New Face of Short Sales: Part 3

December 15, 2009

This is the last installment of Phil Tesoriero’s trilogy, “The New Face of Short Sales.”  Be sure to check out Parts 1 & 2 as well:

Part 1: Basic Short Sale Information
Part 2: Homeowner’s Preparation before a Short Sale
Part 3: After Receiving Your Short Sale Agreement

The New Face of Short Sales: Part 3
By Phil Tesoriero
You should review the [...]

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The New Face of Short Sales: Part 2

December 14, 2009

The New Face of Short Sales:

Part 1: Basic Short Sale Information
Part 2: Homeowner’s Preparation before a Short Sale
Part 3: After Receiving Your Short Sale Agreement (Tomorrow’s Post)

The New Face of Short Sales: Part 2
By Phil Tesoriero
Part of the servicer’s due diligence will be to determine “expected recovery through foreclosure and disposition.”  If they can determine [...]

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The New Face of Short Sales: Part 1

December 11, 2009

Dear KCM Community,
Our next guest blogger, Phil Tesoriero, is a Short Sale expert.  He will be putting out his Short Sale trilogy, “The New Face of Short Sales”, that will take us through three separate parts of the new Short Sale process.
The KCM Crew, along with its lead author, Steve Harney, believe that Short Sales [...]

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