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Traditional vs. Short Sales

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Home sales usually fall into one of three main categories: traditional sales, short sales, and foreclosures. For buyers, each has pros and cons, though generally speaking the cheaper properties are short sales and foreclosures. But if you’re a buyer, you need to keep in mind that these properties are usually cheaper for a good reason. … Continued

Rising Foreclosures: What to Know

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It’s no secret that foreclosure rates in America are on the rise. This can affect the Greenville real estate market in all sorts of ways. The housing market has always been a volatile industry. With fluctuating prices, ever-changing regulations, and unforeseeable economic conditions, it can be challenging for homebuyers and home sellers to navigate the … Continued

Pre-Foreclosure vs. Foreclosure

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Foreclosure and preforeclosure are two terms that are commonly used in the real estate industry. While these terms may sound similar, they have very different meanings and implications for both homeowners and potential buyers. What is Foreclosure? Foreclosure is a legal process that occurs when a homeowner is unable to make their mortgage payments. When … Continued

Sell House During Bankruptcy in NC

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If you own a home when you file for bankruptcy, it becomes part of the bankruptcy estate, the property or assets you own. In October of 2022, there was a twenty-seven percent increase in chapter 13 bankruptcy filings over the previous year. Bankruptcies, including all chapters, total a seven percent increase overall, which correlates strongly … Continued

Avoiding Foreclosure in Greenville

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Facing foreclosure can be an extremely stressful experience for any Greenville homeowner. Not only does it mean the loss of a home, but it can also have a significant impact on one’s credit score and financial future. Fortunately, there are options available for homeowners facing foreclosure, including working with direct property buyers in Greenville. In … Continued

Upside-Down on Your Mortgage? Try This

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Whether you overpaid for the property in a bidding war, you’ve fallen behind on mortgage payments, or property values have dipped, being upside-down on your mortgage or owing more than the current market value is a less-than-ideal situation for homeowners. If circumstances force you to sell your house due to foreclosure instead of waiting out … Continued

5 Ways Foreclosure Affects Home Sale

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The wheels that drive foreclosures turn very slowly, and there is ample opportunity to steer the ship in a new direction and salvage your future. Sadly, foreclosure is entirely avoidable, yet lives are often damaged for years because homeowners weren’t fully informed of the consequences and took no action to prevent the process.  Whatever circumstances … Continued

Greenville Foreclosure Expectations

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If you’re concerned about your property going into foreclosure due to circumstances beyond your control, the optimum scenario would be to work with your lender for a resolution before things go any further. However, going through the foreclosure process can be made easier when homeowners understand what lies ahead, so read on as we explore … Continued

What are “letters testamentary” or “letters of administration”?

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Understanding Estate Documents: Letters Testamentary and Letters of Administration In the realm of estate administration, certain documents play pivotal roles in the appointment of individuals entrusted with managing a decedent’s affairs. Let’s explore the significance of “letters testamentary” and “letters of administration” in the probate process: 1. Letters Testamentary: Letters testamentary are legal documents issued … Continued

Who makes the court decisions about estate administration?

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In the intricate process of estate administration, decisions regarding the distribution of assets, settlement of debts, and resolution of disputes often require judicial oversight. Let’s delve into who holds the authority to make court decisions about estate administration: 1. Probate Court Judges: In most jurisdictions, including North Carolina, probate matters fall under the jurisdiction of … Continued

What are “heirs”, “legatees”, “beneficiaries”, and “devisees”?

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In the realm of estate planning and administration, several terms describe individuals entitled to receive assets or benefits from a decedent’s estate. Let’s explore the meanings of heirs, legatees, beneficiaries, and devisees to gain a deeper understanding of estate terminology: 1. Heirs: Heirs are individuals who inherit assets from a decedent either by law or … Continued

What are “executors”, “administrators”, “personal representatives”, and “trustees”?

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In the landscape of estate planning and administration in North Carolina, it’s crucial to understand the various roles assigned to individuals entrusted with specific responsibilities. Let’s delve into the roles of executors, administrators, personal representatives, and trustees within the context of North Carolina law: 1. Executors: An executor, or executrix if female, is an individual … Continued

What types of property pass through the estate administration process?

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Understanding Probate Assets and Non-Probate Assets In estate administration, distinguishing between probate assets and non-probate assets is essential. Probate assets are typically handled through the estate administration process, whereas non-probate assets may pass outside of this process. Let’s delve into these concepts and explore examples of each. Probate Assets: Probate assets are those that are … Continued