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Can you get a short sale all the time?

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2008-03-10 15:14:54
2008-03-10 15:14:54

A short sale is most often using when a homeowner is facing foreclosure. If the amount offered by a potential buyer of your house is less than the amount you owe your lender, you can ask the lender to accept the offered amount as payment in full. The lender does not have to agree to accept a short sale. They may elect to go ahead with a foreclosure because of other liens on the property (such as 2nd mortgages.) You can request a short sale by submitting a short sale hardship letter to your lender.

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It can but does not work all the time. I know that Indymac will no longer delay and foreclosure sales and with a short sale you just never know.


A short sale is an option when a property owner is not able to afford the obligations of a loan. The amount of time a short sale is on a credit report can be answered by a lawyer who is assisting in the short sale. A short sale may hinder future loans.


Many realtors will sell a house as a short sale. However a short sale has to be approved by the bank first.


A short sale must be approved by the lender. It will not approve your proposal.A short sale must be approved by the lender. It will not approve your proposal.A short sale must be approved by the lender. It will not approve your proposal.A short sale must be approved by the lender. It will not approve your proposal.


Yes, you can purchase a Short Sale with an FHA loan. There are no restrictions on the type of financing in the purchase of a short sale.


Short sale is a great option for investors who want to make some money. If they make a smart purchase of a short sale home they can earn a huge profit. But, they need to be very careful when buying a short sale.


Short Sale Advisory ~ or Short Sale Addendum


House Hunters - 1999 First Time Buyers Seek Short Sale in Sacramento was released on: USA: 4 April 2010


Anyone can do a short sale provided their home is worth less than the balances owed on mortgage. Banks will look at short sale even if you are current, so if you have to sell, submit your paperwork to the bank ad they will let you know if you qualify for a short sale.


A short sale will have a detrimental affect on your credit record but not as bad as a foreclosure.


No. A foreclosure is what happens when you stop making mortgage payments. A short sale must be discussed and negotiated with the lender. In that case the lender agrees to accept the proceeds of a sale of the property even if they fall short of what is owed on the mortgage. They agree to forgive any remaining balance on the loan. It is a way to avoid a foreclosure. Not all lenders will agree to a short sale.


Generally, no a homeowner cannot sell a short sale to a family member or other related party. This would violate the arm's length transaction requirement of a short sale.


From what I understand the bank has to agree to the short sale and then takes that as the mortgage paid.


Give the Short Sale Lender Time to Respond. Make your offer contingent upon the lender's acceptance. Give the lender a time frame in which to respond, after which, you will be free to cancel. Some lenders submit short sales to committee, but most can make a decision within two to three months


You do not need to live in the house to complete a short sale. In order to qualify for the HAFA short sale you would need to of lived in the property within the last 12 months.


Short sales are usually used as an alternative to foreclosure and any liens the sale falls short of paying are released. However, the short sale agreement may not necessarily relieve the obligation of the borrower from repaying the debt.


It's better to refinance. A short sale will reflect negatively on your credit record.It's better to refinance. A short sale will reflect negatively on your credit record.It's better to refinance. A short sale will reflect negatively on your credit record.It's better to refinance. A short sale will reflect negatively on your credit record.


How do you get out of a second mortgage when the house has been sold on a short sale?


A short sale incurs a loss for the bank or other institution that extended the loan to the homeowner. Therefore, the homeowner must negotiate the terms of the sale with the bank before attempting to sell the property. There are a variety of consequences for the owner of a short-sale property.


If a bank refuses a short sale offer, you can only make a new offer to the bank. Your real estate agent will be able to give more details about the short sale process.


zumies has a section of skateboards on sale online all the time. go to zumies.com then click on sale at the top.look at the decks.


A "short sale" refers to a home that is being sold for less than the balance owed to the mortgage company. For example, a home is listed for 450,000, but the owner owes 600,000 on the home. This would be a short sale.


Yes, but the amount of the concession depends on the type of short sale. An FHA Short Sale (under the HUD Pre-foreclosure Sale Program) can include up to a 1% seller concession only if the Buyer is utilizing FHA financing in the purchase. A HAFA Short Sale will allow a seller concession, but the amount depends on the proposed net proceeds to the mortgage servicer.


If you short sale a house you don't have to wait any specific amount of time to purchase a dwelling. It does mean that the interest rate on the new mortgage could be higher than normal, or it may be more difficult to purchase a new dwelling due to the poor credit score resulting from the previous short sale.




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