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How does a bank research income to approve a short sale of a property?
Wiki User
∙ 12y ago
A bank can look at someone's direct deposit for their salary and do a calculation for an approximate of how much they make a year. They can further this by calculating their average expenses and work that total together.
Wiki User
∙ 12y ago
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Can you short sale your house to your spouse?
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.
What is the market cap for Blackstone GSO Long Short Credit Income Fund BGX?
As of July 2014, the market cap for Blackstone GSO Long Short Credit Income Fund (BGX) is $222,414,804.09.
What is a short sale in real estate?
A short sale is a sale in real estate, in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens' full amounts and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.
What is the difference between a foreclosure and short sale?
A foreclosure is the surrender of the property to the lien holder for nonpayment of the debt. A short sale is the sale of the property before the completion of the foreclosure in an attempt by the home buyer and the lender to avoid foreclosure proceedings.
What is a short sale on a home mean?
A short sale is where the lender agrees to allow the mortgagor to sell the property for less than what they owe on the loan (because the value of the property is less than the loan amount and therefore that's all it can be sold for).
Can you short sale your house to your spouse?
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.
You sold your property in a short sale you did receive a 1099c from the lender GMAC do you have to include this as income on your tax return?
Yes. The cancel of the debt is income to you and absolutely reportable...and has, by that 1099, already been reported to the IRS.
What is short selling property?
A short sale of real estate means that the property is sold for less than the balance due on the mortgage. In a short sale the owner has negotiated with the bank and the bank has agreed to discount the amount due on the mortgage by accepting the proceeds from the sale as full payment of the mortgage. In certain circumstances, the owner may receive a 1099 on the amount of the loan that was forgiven. That amount may be counted as income by the IRS if the property was not the primary residence.
Can short term stock losses be applied against current year short term income to the full extent of short term income?
I need a short term objectives for a beauty salon
How do you use sanction in a short sentence?
Many leaders did not approve of or sanction the civil war.
Can a topic for a research can be broader than the topic for a short essay?
yes the topic of the research can be broader then the topic of short essay
What is the symbol for Eaton Vance Short Diversified Income Fund in the NYSE?
The symbol for Eaton Vance Short Diversified Income Fund in the NYSE is: EVG.
In what year did Eaton Vance Short Diversified Income Fund - EVG - have its IPO?
Eaton Vance Short Diversified Income Fund (EVG)had its IPO in 2005.
What does Headache Puppy does not approve of repetitive refreshing mean on total jerkface?
the server has crashed for a short time
What is the symbol for Blackstone GSO Long Short Credit Income Fund in the NYSE?
The symbol for Blackstone GSO Long Short Credit Income Fund in the NYSE is: BGX.
What is the symbol for First Trust High Income Long Short Fund in the NYSE?
The symbol for First Trust High Income Long Short Fund in the NYSE is: FSD.
Can a family member buy a short sale property from another family member?
Can a family member buy a short sale property from a family member
