Tami Rapaport, a Coldwell Banker Broker/Sales Associate, with 25 years of experience, is one of Bergen County’s most respected top producers. In 2009, Tami ranked #2 out of 3,900 Coldwell Banker agents in the entire State of New Jersey and has achieved Platinum Level Sales Awards from 2002 through 2009.
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Tag Archives: loan
As foreclosure rates hit record levels, more sellers are turning to short sales as a way to avoid foreclosure. So, how does it work? In a short sale, the seller arranges with their mortgage lender to accept a price that’s less than the amount they owe on the property. As part of this arrangement, the lender typically agrees to forgive the rest of the loan. As a result, the seller doesn’t have to go through a foreclosure, the buyer picks up a property at a discount, and the lender avoids taking on the burden of unloading the property.
So what kind of mortgage is best for you? Fixed rate? Adjustable rate? Government loans? The truth is, there is no one correct answer. Given the many different types of loans and term lengths, the choice can be difficult. It is an extremely important choice and you can definitely benefit from research before you make your decision. Some time and effort right now can save you thousands of dollars in the long run. Continue reading