Prudential Connecticut Realty's Newtown Office will be holding an informative seminar for anyone who would like to know more about foreclosure and short sale properties. Attorney Frank Lieto of Lieto & Greenberg LLP will discuss short sales and Attorney Larry Riefberg of Reifberg, Smart, Donohue and NaJame, P.C. will talk about foreclosures.
- Date: Tuesday, June 30, 2009
- Time: 6:00 pm
- Location: 33 Church Hill Road, Newtown
What is a short sale? Short Sale is a term that we hear quite often these days. A short sale is when there is not enough money in the transaction to satisfy all the obligations of the seller. These obligations can include the payoff of any and all mortgages, any loans collateralized by the property, transfer taxes, legal fees, real estate commissions and any outstanding property taxes or liens against the property. A short sale is often a better alternative for the bank and the seller to avoid the foreclosure process.
What is a foreclosure? A foreclosure is legal proceeding whereby a property that has mortgage on it is taken back by the bank or lender due to non-payment of the mortgage. The bank or lender has taken back ownership of the property - sort of like a repossession.
Stop by for a visit and while here, you can learn about these types of distressed properties.
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We have posted on www.LifeinNewtown.com about short sales in the past. Here are the most recent:
http://activerain.com/blogsview/1094706/newtown-ct-of-short-sales-as-of-5-31-09-
http://activerain.com/blogsview/995075/newtown-ct-of-short-sales-as-of-3-21-09-
http://activerain.com/blogsview/904961/newtown-ct-of-short-sales-as-of-1-28-09
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Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818
