Jenny Olson-Paden's Blog Posts

One of the most common questions homeowners ask is, “Can I have money in savings and still qualify for a short sale?”The answer depends on your mortgage lender, loan type, investor

A short sale hardship letter is a written explanation of why a homeowner can no longer afford the mortgage or why keeping the property is no longer financially possible. The mortgage lender uses

Not automatically.A lender can release its lien so the property can be sold without releasing the homeowner from responsibility for the remaining debt. That is why the short sale approval letter is

Ignoring foreclosure notices is one of the biggest mistakes a homeowner can make.I understand why people do it. The letters are overwhelming. The phone calls are stressful. Sometimes it feels easier

If you're selling your home, going through a short sale, or facing foreclosure, you've probably heard the terms BPO and appraisal. While both are used to estimate the value of a property, they serve

If you're asking, "Can a short sale be denied?" the answer is yes. While many short sales are successfully approved, lenders deny them every day for reasons that are often avoidable.The good news is

What Happens to My Credit During a Short Sale?One of the first questions homeowners ask me is:"What is a short sale going to do to my credit?"The honest answer is that a short sale will likely

If you're asking, "Can I sell my house during foreclosure?" the answer is often yes.Many homeowners believe that once foreclosure starts, they no longer have any control over their home. That simply

One of the most common questions I get from homeowners is, "Why does the bank keep asking for the same paperwork? I already sent that."I wish I had a simple answer, but the truth is that this

Submitting the short sale package is a big step, but it is really just the beginning of the lender review.Every lender handles things a little differently, and there is rarely a perfectly straight

Most homeowners do not wait because they do not care. They wait because they are overwhelmed, embarrassed, or unsure where to start. Unfortunately, waiting can reduce the options available.1. They

If you are struggling to make your mortgage payment or you owe more on your home than it is worth, you may have heard the term short sale. Most people have, but very few know what it actually means

One of the first things homeowners tell me is:"I already called my mortgage company, and now I'm more confused than when I started."If that sounds familiar, don't worry. You're not alone.I'm not

If you're wondering how a short sale works or whether you should call your mortgage company before a short sale, you're not alone. Many homeowners believe their lender will explain every available